We present a new model of remembering in the context of conditional discrimination. For procedures such as delayed matching to sample, the effect of the sample stimuli at the time of remembering is represented by a pair of Thurstonian (normal) distributions of effective stimulus values. The critical assumption of the model is that, based on prior experience, each effective stimulus value is associated with a ratio of reinforcers obtained for previous correct choices of the comparison stimuli. That ratio determines the choice that is made on the basis of the matching law. The standard deviations of the distributions are assumed to increase with increasing retention‐interval duration, and the distance between their means is assumed to be a function of other factors that influence overall difficulty of the discrimination. It is a behavioral model in that choice is determined by its reinforcement history. The model predicts that the biasing effects of the reinforcer differential increase with decreasing discriminability and with increasing retention‐interval duration. Data from several conditions using a delayed matching‐to‐sample procedure with pigeons support the predictions.