Measuring Impatience: Elicited Discount Rates and the Barratt Impulsiveness Scale

Robert J. Oxoby () and Kendra N. McLeish

No 2007-01, Working Papers from Department of Economics, University of Calgary

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.

Date: Written

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Working Paper: Measuring Impatience: Elicited Discount Rates and the Barratt Impulsiveness Scale (2006)
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