We present a classification and theoretical analysis of discrete-trial and free-operant choice procedures in which reinforcement is assigned to one alternative only, or independently to both, is either always available or conditionally available, and is either "held" or not from trial to trial. Momentary-maximizing and (globally) optimal choice sequences are defined in terms of initializing and marker events. Free-operant choice is analyzed in terms of a clock space whose axes are the times since the last A and B choices. The analysis shows that most molar matching data are derivable from momentary maximizing, and that the momentary-maximizing hypothesis has not been adequately tested in either discrete-trial or free-operant situations.