Pigeons and other animals sometimes deviate from optimal choice behavior when given informative signals for delayed outcomes. For example, when pigeons are given a choice between an alternative that always leads to food after a delay and an alternative that leads to food only half of the time after a delay, preference changes dramatically depending on whether the stimuli during the delays are correlated with the outcomes or not. With signaled outcomes, pigeons show a much greater preference for the suboptimal (...) alternative than with unsignaled outcomes. Key variables and research findings related to this phenomenon are reviewed, including the effects of durations of the choice and delay periods, probability of reinforcement, and gaps in the signal. We interpret the available evidence as reflecting a preference induced by signals for good news in a context of uncertainty. Other explanations are briefly summarized and compared. (shrink)