Sunk Cost Bias, Meditate for 15 Minutes, Debias the Mind

We are going to know a new freedom and a new happiness. We will not regret the past nor wish to shut the door on it. We will comprehend the word serenity and we will know peace.

"A new study finds that just 15 minutes mindfulness meditation can help free the mind of biased thinking. The research, published in the journal Psychological Science, tested the effects of meditation on a well-established mental bias called the ‘sunk cost’ bias (Hafenbrack et al., 2013). The sunk cost bias refers to the fact that people find it difficult to give up on a goal into which they’ve already made a large investment. Even once the goal has gone stale or proven unworkable, there’s a tendency to throw good money (or effort) after bad, simply because a significant investment has already been made. “Well,” people say to themselves. “We’ve come this far…” The effects of the ‘sunk cost’ bias can be seen in public projects that go way over budget and in military campaigns which continue long after their objectives have proven unworkable... One of the strengths of meditation is that it shifts mental focus into the present moment. In comparison to a control condition, thinking mindfully doubled the number of people who could avoid the sunk cost bias." read more: Meditation Can ‘Debias’ the Mind in Only 15 Minutes — PsyBlog

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