Extractions of alkali metal (Na-Cs) picrates (MA) with 15-crown-5 (15C5) into various diluents of low dielectric constant were conducted at 25 degrees C. Using the extraction data, the ion-pair formation constants (K(MLA)) in water of 15C5-MA 1:1:1 complexes were determined by an equation derived from the regular solution theory (logK(MLA)=4.43+/-0.27 for Na, 3.27+/-0.42 for K, 3.58+/-0.35 for Rb, and 2.78+/-0.41 for Cs). The actual overall extraction equilibrium constants were obtained by considering the concentrations of the 1:1:1 15C5 complexes and the ion-pair formation between uncomplexed alkali metal and picrate ions in the aqueous phase. The distribution constants of the 15C5 complexes were calculated and their partition behavior is explained by the regular solution theory. Molar volumes and solubility parameters of 15C5 itself and the complexes were determined. Extraction-efficiency and -selectivity of 15C5 for alkali metal picrates were completely elucidated from the standpoint of equilibrium.