Probabilistic models of delay discounting: improving plausibility and performance

Probabilistic models of delay discounting allow the estimation of discount functions without assuming that these functions describe sharp boundaries in decision making. However, existing probabilistic models allow for two implausible possibilities: first, that no reward might sometimes be preferred over some reward (e.g., \$0 now over \$100 in 1 year), and second, that the same reward might sometimes be preferred later rather than sooner (e.g., …