Debiasing the Mind Through Meditation: Mindfulness and the Sunk-Cost Bias

Hafenbrack, A.C., Kinias, Z., Barsade, S.G. (2014). Debiasing the Mind Through Meditation: Mindfulness and the Sunk-Cost Bias. Psychological Science February 2014 vol. 25 no. 2 369-376.

Abstract: In the research reported here, we investigated the debiasing effect of mindfulness meditation on the sunk-cost bias. We conducted four studies (one correlational and three experimental); the results suggest that increased mindfulness reduces the tendency to allow unrecoverable prior costs to influence current decisions. Study 1 served as an initial correlational demonstration of the positive relationship between trait mindfulness and resistance to the sunk-cost bias. Studies 2a and 2b were laboratory experiments examining the effect of a mindfulness-meditation induction on increased resistance to the sunk-cost bias. In Study 3, we examined the mediating mechanisms of temporal focus and negative affect, and we found that the sunk-cost bias was attenuated by drawing one’s temporal focus away from the future and past and by reducing state negative affect, both of which were accomplished through mindfulness meditation.

Read the article: Hafenbrack, A.C., Kinias, Z., Barsade, S.G. (2014). Debiasing the Mind Through Meditation: Mindfulness and the Sunk-Cost Bias. Psychological Science, February 2014 vol. 25 no. 2 369-376.



(Something interesting I found)Posted:Feb 01 2014, 12:00 AM by brendah
  • News said:

    By Freakonomics, The Hidden Side of Everything The sunk-cost fallacy leads to all sorts of poor decision


    July 2, 2014 4:09 PM
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