Before revision:  The framework can lead to the effect that discount-factors for very large liquidity requirements or projects are an increasing function of time  .
After revision:  The non-linear discounting presented here has several effects, which are relevant in various applications: * If we consider the question of default-free valuation, i.e., factoring in the cost of default protection, the framework can will lead to over-proportional higher values (or cost) for large projects (or damages). The framework can lead to the effect that discount-factors for very large liquidity requirements or projects are an increasing function of time .