Relative subjective value as a function of delay to receipt of a reward. The top panel shows the discounting of two monetary rewards and the bottom panel shows the discounting of two real liquid rewards of different amounts. In each panel, the larger delayed amount is discounted statistically significantly less steeply as a function of time to its receipt than the smaller, delayed amount (a magnitude effect). Data are from Experiment 2 of “Amount of reward has opposite effects on the discounting of delayed and probabilistic outcomes,” by L. Green, J. Myerson, and P. Ostaszewski, 1999, Journal of Experimental Psychology: Learning, Memory, and Cognition, 25, pp. 418–427, and Experiment 3 of “Are people really more patient than other animals? Evidence from human discounting of real liquid rewards,” by K. Jimura, J. Myerson, J. Hilgard, T. S. Braver, and L. Green, 2009, Psychonomic Bulletin & Review, 16, pp. 1071–1075.