I offer to give people a thousand dollars. People are told that they will receive the thousand dollars in either 3 months, 2 months, 1 month, or immediately. Between which of the following conditions are we likely to fi nd the largest difference in level of excitement about receiving the money: 3 months versus 2 months, 2 months versus 1 month, or 1 month versus immediately? __________________________.

Between which conditions would we fi nd the second largest difference in level of excitement? ___________________________.