We develop a general theory of intertemporal choice: the reference-time theory, RT. RT is a synthesis of ideas from the … subadditivity of time discounting (Roelofsma and Read 2000, Read 2001 and Scholten and Read 2006a). These models are extended to … to account for all the 6 main anomalies of time discounting: gain-loss asymmetry, magnitude effect, common difference …