Significance Craving is a specific desire state that biases choice toward the desired object. Although extremely common, and in its pathological form a major contributor to negative health outcomes as in addiction and obesity, craving is not well understood. In a laboratory model of craving, we find “craving” is reflected in people’s momentary willingness to pay for the things they desire, and for subjectively similar things, consistent with a transient, good-selective change in subjective valuation. We further find the value of the desired goods increases multiplicatively, which might explain several escalation behaviors associated with craving in real-world environments. This opens more lines of research regarding the computational form of craving in health and disease, with implications for marketing actions and consumer choice.