Delay discounting refers to the tendency to prefer smaller, immediate rewards (e.g., $100 now) over larger, delayed ones (e.g., $500 in ten years). The traditional discounting parameter k, derived from the hyperbolic discounting function, is commonly used to describe the rate of discounting. However, its estimation relies on indifference points, the calculation of which often violates theoretical assumptions in practice. We propose a novel quantification approach, termed the Money-Time Ratio (MTR). The MTR is an algebraic rearrangement of the hyperbolic function that directly solves for the k parameter without the need to calculate indifference points for each delay. Here, we aimed to compare how well the two measures capture participants’ delay discounting behavior, assessed through repeated choices between immediate and delayed rewards. Results indicated that the MTR demonstrated superior psychometric properties compared to the conventional hyperbolic model: it provided a better fit to delay discounting data and produced k values that were normally distributed. We conclude that the MTR represents a simple, robust, and theoretically consistent alternative to traditional measures of delay discounting.