The theory of thin wires developed in Dret and Meunier (Comptes Rendus de l’Académie des Sciences. Série I. Mathématique 337:143–147, 2003) is adapted to phase-transforming materials with large elastic moduli in the sense discussed in James and Rizzoni (J Elast 59:399–436, 2000). The result is a one-dimensional constitutive model for shape memory wires, characterized by a small number of material constants. The model is used to analyze self-accommodated and detwinned microstructures and to study superelasticity. It also turns out that the model successfully reproduces the behavior of shape memory wires in experiments of restrained recovery (Tsoi et al. in Mater Sci Eng A 368:299–310, 2004; Tsoi in 50:3535–3544, 2002; S̆ittner et al. in Mater Sci Eng A 286:298–311, 2000; vokoun in Smart Mater Struct 12:680–685, 2003; Zheng and Cui in Intermetallics 12:1305–1309, 2004; Zheng et al. in J Mater Sci Technol 20(4):390–394, 2004). In particular, the model is able to predict the shift to higher transformation temperatures on heating. The model also captures the effect of prestraining on the evolution of the recovery stress and of the martensite volume fraction.