We investigated potential predictors of the preference for smaller sooner over larger later monetary payoff, so-called delay discounting. Cognitive reflection is the tendency to override intuitive responses with deliberative ones. Reinforcement sensitivity captures the strength of an individual's reaction to possible gains or losses in their environment. In 2 studies (n ϭ 249), 1 exploratory and 1 preregistered, we found that cognitive reflection, but not reinforcement sensitivity, consistently predicted temporal discounting of hypothetical monetary gains and losses. We conclude that discount rates depend on how people combine various thoughts rather than on how strong is their sensitivity to gains and losses.

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