The joint effects of punishment and reinforcement on the pigeon's key-peck response were examined in three choice experiments conducted to compare predictions of Farley and Fantino's (1978) subtractive model with those made by Deluty's (1976) and Deluty and Church's (1978) model of punishment. In Experiment 1, the addition of equal punishment schedules to both alternatives of a concurrent reinforcement schedule enhanced the preference exhibited for the more frequent reinforcement alternative. Experiment 2 demonstrated decreases in the absolute response rate for each member of a concurrent reinforcement schedule when increasing frequencies of punishment were added to each alternative. Experiment 3 found that preference for the denser of two reinforcement schedules diminished when the absolute frequencies of reinforcement were increased by a constant factor and conditions of punishment for both alternatives were held constant. Diminished preferences were obtained regardless of whether the frequency of punishment associated with the denser reinforcement schedule was greater or less than that associated with the lean reinforcement alternative. The results from all three experiments uniquely supported Farley and Fantino's (1978) subtractive model of punishment and reinforcement.