Mindfulness Meditation Improves Decisions, Reduces Sunk-Cost Bias


It’s interesting to see research backing up what a lot of people who regularly meditate already know. I’m also interested in the suggestion that people take “mental time out” before making decisions: this is what people who are naturaly reflectors do, and I’ve found that they often come back with the best ideas and thoughts if they’re allowed the space they need.

Kathryn Welds | Curated Research and Commentary

Sigal Barsade Sigal Barsade

Brief meditation sessions can reduce the tendency to base current decisions on past “sunk costs,” which are not relevant to the present choice, reported Wharton’s Sigal Barsade, with Andrew C. Hafenbrack and Zoe Kinias both of INSEAD.

Andrew Hafenbrack Andrew Hafenbrack

Sunk-cost bias” is the prevalent tendency to continue unsuccessful actions after time and money have been invested.
Frequent examples include:

  • Holding poorly-performing stock market investments
  • Staying in abusive interpersonal relationships
  • Continuing failing military engagements.

Zoe Kinias Zoe Kinias

In these cases, people tend to focus on past behaviors rather than current circumstances, leading to emotion-driven decision biases.

Meditation practices can:

  • Enable increased focus on the present moment
  • Shift attention away from past and future actions
  • Reduce negative emotions.

Kirk Brown Kirk Brown

Barsade, Hafenbrack, and Kinias asked volunteers to complete Mindful Attention Awareness Scale, a widely used trait-mindfulness scale developed by Virginia Commonwealth University’s Kirk Brown and Richard…

View original post 506 more words

Advertisements

One thought on “Mindfulness Meditation Improves Decisions, Reduces Sunk-Cost Bias

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s