The additive utility theory of discounting is extended to probability and commodity discounting. Because the utility of a good and the disutility of its delay combine additively, increases in the utility of a good offset the disutility of its delay: Increasing the former slows the apparent discount even with the latter, time-disutility, remaining invariant, giving the magnitude effect. Conjoint measurement showed the subjective value of money to be a logarithmic function of its amount, and subjective probability-the probability weighting function-to be Prelec's (1998). This general theory of discounting (GTD) explains why large amounts are probability discounted more quickly, giving the negative magnitude effect. Whatever enhances the value of a delayed asset, such as its ability to satisfy diverse desires, offsets its delay and reduces discounting. Money's liquidity permits optimization of the portfolio of desired goods, providing added value that accounts for its shallow temporal discount gradient. GTD predicts diversification effects for delay but none for probability discounting. Operations such as episodic future thinking that increase the larder of potential expenditures-the portfolio of desirable goods-increase the value of the asset, flattening the discount gradient. States that decrease the larder, such as stress, depression, and overweening focus on a single substance like a drug, constrict the portfolio, decreasing its utility and thereby steepening the gradient. GTD provides a unified account of delay, probability, and cross-commodity discounting. It explains the effects of motivational states, dispositions, and cognitive manipulations on discount gradients. (PsycInfo Database Record (c) 2023 APA, all rights reserved).

中文翻译：

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贴现和欲望组合。

贴现的加性效用理论被扩展到概率和商品贴现。因为商品的效用和其延迟的负效用相加，所以商品效用的增加抵消了其延迟的负效用：增加前者会减慢明显的折扣，即使后者，时间负效用保持不变，给出幅度效应。联合测量表明，货币的主观价值是其金额的对数函数，而主观概率（概率加权函数）是 Prelec（1998）的函数。这种一般贴现理论 (GTD) 解释了为什么大额金额可能会更快地贴现，从而产生负面的幅度效应。无论什么能够提高延迟资产的价值，例如其满足不同需求的能力，都可以抵消其延迟并减少折扣。货币的流动性允许优化所需商品的组合，提供附加值，从而解释其浅时间贴现梯度。GTD 预测了延迟的多样化效应，但没有预测概率贴现的多样化效应。诸如情景未来思考之类的操作会增加潜在支出的储备——理想商品的组合——增加资产的价值，拉平折扣梯度。减少食品储藏量的国家，例如压力、抑郁和过度关注单一物质（如药物），会限制投资组合，降低其效用，从而使梯度变陡。GTD 提供延迟、概率和跨商品折扣的统一账户。它解释了动机状态、性格和认知操作对折扣梯度的影响。（PsycInfo 数据库记录 (c) 2023 APA，保留所有权利）。