Featured Research

from universities, journals, and other organizations

Mindfulness meditation may improve decision-making, new study suggests

Date:
February 12, 2014
Source:
Association for Psychological Science
Summary:
New findings suggest that mindfulness meditation, which cultivates awareness of the present moment and clears the mind of other thoughts, may help people make smarter choices.

One 15-minute focused-breathing meditation may help people make smarter choices.
Credit: vgstudio / Fotolia

One 15-minute focused-breathing meditation may help people make smarter choices, according to new research from researchers at INSEAD and The Wharton School. The findings are published in the February issue of Psychological Science, a journal of the Association for Psychological Science.

People have trouble cutting their losses: They hold on to losing stocks too long, they stay in bad relationships, and they continue to eat large restaurant meals even when they're full. This behavior, often described as "throwing good money after bad," is driven by what behavioral scientists call the "sunk-cost bias":

"Most people have trouble admitting they were wrong when their initial decisions lead to undesirable outcomes," says researcher Andrew Hafenbrack, lead author on the new research and doctoral candidate at INSEAD. "They don't want to feel wasteful or that their initial investment was a loss. Ironically, this kind of thinking often causes people to waste or lose more resources in an attempt to regain their initial investment or try to 'break even.'"

Across a series of studies, Hafenbrack and co-authors found that mindfulness meditation, which cultivates awareness of the present moment and clears the mind of other thoughts, may help to counteract this deep-rooted bias.

"We found that a brief period of mindfulness meditation can encourage people to make more rational decisions by considering the information available in the present moment, while ignoring some of the other concerns that typically exacerbate the 'sunk cost bias,'" explains Hafenbrack.

In collaboration with Zoe Kinias, Assistant Professor of Organisational Behaviour at INSEAD, and Sigal Barsade, the Joseph Frank Bernstein Professor of Management at the Wharton School at the University of Pennsylvania, Hafenbrack conducted four studies to test the idea that mindfulness meditation could improve decision-making by increasing resistance to the sunk-cost bias.

In one online study, American participants reported about how much they typically focus on the present moment, and also read 10 sunk-cost scenarios -- such as whether to attend a music festival that had been paid for when illness and bad weather made enjoyment unlikely -- and then reported how much they would let go of sunk costs in each of them. The results revealed that the more people typically focused on the present moment, the more they reported that they would ignore sunk costs.

To test whether mindfulness caused an increased resistance to the sunk-cost bias, the researchers conducted an additional three experiments. In each, participants listened to a 15-minute recording made by a professional mindfulness coach. For one group of participants, the recording led them through a focused-breathing meditation that repeatedly instructed them to focus on the sensations of breathing. The other group of participants listened to a recording that asked them to think of whatever comes to mind, a practice that is not a form of meditation. Participants then responded to sunk-cost scenario questions. In the final study, participants also answered questions about the time period on which they focused -- that is present, past, or future -- and the emotions they experienced.

The results show that mindfulness meditation increased resistance to the sunk-cost bias in each of the three experiments.

"The debiasing effect of mindfulness meditation in sunk-cost situations was due to a two-step process," said co-author Zoe Kinias. "First, meditation reduced how much people focused on the past and future, and this psychological shift led to less negative emotion. The reduced negative emotion then facilitated their ability to let go of sunk costs."

"This tool is very practical," said co-author Sigal Barsade. "Our findings hold great promise for research on how mindfulness can influence emotions and behavior, and how employees can use it to feel and perform better."


Story Source:

The above story is based on materials provided by Association for Psychological Science. Note: Materials may be edited for content and length.


Journal Reference:

  1. A. C. Hafenbrack, Z. Kinias, S. G. Barsade. Debiasing the Mind Through Meditation: Mindfulness and the Sunk-Cost Bias. Psychological Science, 2013; 25 (2): 369 DOI: 10.1177/0956797613503853

Cite This Page:

Association for Psychological Science. "Mindfulness meditation may improve decision-making, new study suggests." ScienceDaily. ScienceDaily, 12 February 2014. <www.sciencedaily.com/releases/2014/02/140212112745.htm>.
Association for Psychological Science. (2014, February 12). Mindfulness meditation may improve decision-making, new study suggests. ScienceDaily. Retrieved September 20, 2014 from www.sciencedaily.com/releases/2014/02/140212112745.htm
Association for Psychological Science. "Mindfulness meditation may improve decision-making, new study suggests." ScienceDaily. www.sciencedaily.com/releases/2014/02/140212112745.htm (accessed September 20, 2014).

Share This



More Mind & Brain News

Saturday, September 20, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Could Grief Affect The Immune Systems Of Senior Citizens?

Could Grief Affect The Immune Systems Of Senior Citizens?

Newsy (Sep. 19, 2014) The study found elderly people are much more likely to become susceptible to infection than younger adults going though a similar situation. Video provided by Newsy
Powered by NewsLook.com
Food Addiction Might Be Caused By PTSD

Food Addiction Might Be Caused By PTSD

Newsy (Sep. 18, 2014) New research shows that women who suffer from PTSD are three times more likely to develop a food addiction. Video provided by Newsy
Powered by NewsLook.com
Corporal Punishment on Decline, Debate Renews

Corporal Punishment on Decline, Debate Renews

AP (Sep. 16, 2014) Corporal punishment in the United States is on the decline, but there is renewed debate over its use after Minnesota Vikings running back Adrian Peterson was charged with child abuse. (Sept. 16) Video provided by AP
Powered by NewsLook.com
FDA Eyes Skin Shocks Used at Mass. School

FDA Eyes Skin Shocks Used at Mass. School

AP (Sep. 15, 2014) The FDA is considering whether to ban devices used by the Judge Rotenberg Educational Center in Canton, Massachusetts, the only place in the country known to use electrical skin shocks as aversive conditioning for aggressive patients. (Sept. 15) Video provided by AP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins