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Measuring Impatience: Elicited Discount Rates and the Barratt Impulsiveness Scale

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  • McLeish, Kendra N
  • Oxoby, Robert J

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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Bibliographic Info

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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Keywords: intertemporal choice; impulsiveness; discounting; experiments;

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Cited by:
  1. David L. Dickinson & Robert J. Oxoby, 2007. "Cognitive Dissonance, Pessimism, and Behavioral Spillover Effects," Working Papers 07-11, Department of Economics, Appalachian State University.
  2. David L. Dickinson & Robert Oxoby, 2007. "Cognitive Dissonance, Pessimism, and Behavioral Spillover Effects," Working Papers 2007-09, Department of Economics, University of Calgary, revised 26 Oct 2007.

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