P. N. Johnson-Laird and R. M. J. Byrne proposed an influential theory of conditionals in which mental models represent logical possibilities and inferences are drawn from the extensions of possibilities that are used to represent conditionals. In this article, the authors argue that the extensional semantics underlying this theory is equivalent to that of the material, truth-functional conditional, at least for what they term "basic" conditionals, concerning arbitrary problem content. On the basis of both logical argument and psychological evidence, the authors propose that this approach is fundamentally mistaken and that conditionals must be viewed within a suppositional theory based on what philosophical logicians call the Ramsey test. Th...