Measuring impatience: Elicited discount rates and the Barratt Impulsiveness Scale

We explore the extent to which elicited discount rates and self-reported impulsivity measure the same behavioral characteristic. We elicit discount rates using monetary rewards and a self-reported measure of impulsiveness (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 when discount rates were elicited after individuals were primed with negative feedback.