A component-functions model of choice behavior is proposed for performance on interdependent concurrent variable-interval (VI) variable-interval schedules based on the product of two component functions, one that enhances behavior and one that reduces behavior. The model is the solution to the symmetrical pair of differential equations describing behavioral changes with respect to two categories of reinforcers: enhancing and reducing, or excitatory and inhibitory. The model describes residence time in interdependent concurrent VI VI schedules constructed from arithmetic and exponential distributions. The model describes the data reported by Alsop and Elliffe (1988) and Elliffe and Alsop (1996) with a variance accounted for of 87% compared to 64% accounted for by the Davison and Hunter (1976) model and 42% by Herrnstein's (1970) hyperbola. The model can explain matching, undermatching, and overmatching in the same subject under different procedures and has the potential to be extended to performance on concurrent schedules with more than two alternatives, multiple schedules, and single schedules. Thus, it can be considered as an alternative to Herrnstein's quantitative law of effect. (Contains 7 tables and 5 figures.)