2015
DOI: 10.13189/ujm.2015.030501
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Towards Empirically Measuring Patience

Abstract: Patience is considered mostly as one-dimensional. In this view it reflects the willingness to defer consumption. This can be represented by a time discount rate. We suggest that patience has a broader, multi-dimensional meaning. This is in contrast to much of the literature. We have identified 19 items to measure patience. Only a small subset of these items is correlated with self-evaluations of patience, which in turn is correlated with the standard economics measure of time discount rate. Our result suggests… Show more

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Cited by 3 publications
(3 citation statements)
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“…Consistent with past research (Brockhoff et al, 2015;Davis et al, 2007;Franken and Muris, 2005), the study identifies ten individual attributes that are common to leaders who practice patience in decision making. Although vast majority of existing literature characterize patience as the ability to endure waiting, this study coincides with Peterson and Seligman (2004) that personality traits are associated with the characterization of patience.…”
Section: Discussionmentioning
confidence: 65%
“…Consistent with past research (Brockhoff et al, 2015;Davis et al, 2007;Franken and Muris, 2005), the study identifies ten individual attributes that are common to leaders who practice patience in decision making. Although vast majority of existing literature characterize patience as the ability to endure waiting, this study coincides with Peterson and Seligman (2004) that personality traits are associated with the characterization of patience.…”
Section: Discussionmentioning
confidence: 65%
“…However, the patience measuring instrument has a different internal consistency in the results of several previous researches. The recommendation for further research is to use a patience measuring instrument compiled by Brockhoff, K., Margolin, M., & Weber, J. (2015).…”
Section: Discussionmentioning
confidence: 99%
“…To this end, we offer our SCE-8 scale to researchers for any study in which the sunk cost effect may explain outcomes, reducing or eliminating the need to run a full experiment. Collecting SCE-8 data would allow subjects' susceptibility to the sunk cost effect to be measured and used in the same way as other common items including risk tolerance (Blais and Weber, 2006), patience levels (Brockhoff et al, 2015), and personality measures (Costa and McCrae, 1989).…”
Section: Literaturementioning
confidence: 99%