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Measuring Impatience: Elicited Discount Rates and the Barratt Impulsiveness Scale

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McLeish, Kendra N
Oxoby, Robert J

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Abstract

We explore intertemporal decision making to test the extent to which elicited discount rates and a self-reported scale of impatience measure the same behavioral characteristic. We conduct experiments in which we elicit discount rates using monetary rewards and a self-reported measure of impatience (the Barratt Impulsiveness Scale, BIS-11). Although researchers have utilized these measures to infer aspects of intertemporal preferences, we find no significant correlation between discount rates and the BIS-11 except in the special case where discount rates were elicited after individuals were primed with negative feedback.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1524.

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Date of creation: 2006
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Handle: RePEc:pra:mprapa:1524

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Related research
Keywords: intertemporal choice; impulsiveness; discounting; experiments;

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Find related papers by JEL classification:
C9 - Mathematical and Quantitative Methods - - Design of Experiments
D9 - Microeconomics - - Intertemporal Choice and Growth

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  14. Read, Daniel & van Leeuwen, Barbara, 1998. "Predicting Hunger: The Effects of Appetite and Delay on Choice, , , ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 76(2), pages 189-205, November. [Downloadable!] (restricted)
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  18. Gary Charness & Dan Levin, 2005. "When Optimal Choices Feel Wrong: A Laboratory Study of Bayesian Updating, Complexity, and Affect," American Economic Review, American Economic Association, vol. 95(4), pages 1300-1309, September. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. David L. Dickinson & Robert J. Oxoby, 2007. "Cognitive Dissonance, Pessimism, and Behavioral Spillover Effects," IZA Discussion Papers 2832, Institute for the Study of Labor (IZA). [Downloadable!]
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