Pigeons responded in a concurrent-chains procedure in which terminal-link reinforcer variables were changed unpredictably across sessions. In Experiment 1, the terminal-link schedules were fixed-interval (FI) 8 s and FI 16 s, and the reinforcer magnitudes were 2 s and 4 s. In Experiment 2 the probability of reinforcement (100% or 50%) was varied with immediacy and magnitude. Multiple-regression analyses showed that pigeons' initial-link response allocation was determined by current-session reinforcer variables, similar to previous studies which have varied only immediacy (Grace, Bragason, & McLean, 2003). Sensitivity coefficients were positive and statistically significant for all reinforcer variables in both experiments. Analyses of responding within individual sessions showed that final levels of preference for "dominated" sessions, in which all reinforcer variables favored the same terminal link, were more extreme than for "tradeoff" sessions in which at least one reinforcer variable favored each alternative. This result implies that response allocation was determined by multiple reinforcer variables within individual sessions, consistent with the concatenated matching law. However, in Experiment 2, there was a nonlinear (sigmoidal) relationship between response allocation and relative value, which suggests the possibility that reinforcer variables may interact during acquisition, contrary to the matching law. (Contains 5 tables, 12 figures, and 1 footnote.)