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Go Zen With the Markets

A little Zen can go a long way in the markets:

You. Right. Again. http://blogs.hbr.org/2014/01/a-little-meditating-helps-you-make-better-business-decisions/

Gary

Thanks. Excerpt from the research:

Research participants who had spent just 15 minutes in “mindfulness” meditation, focusing on their breathing, were 77% more likely than others to resist what’s known as the “sunk-cost bias,” the tendency to stick with a less-than-optimal strategy merely because a lot of money has been sunk into it, says a team led by Andrew C. Hafenbrack of Insead business school in France. In a fictional scenario, the participants had to decide whether to buy a highly efficient $10,000 machine shortly after spending $200,000 on equipment that was much less efficient (and couldn’t be sold). Meditation’s impact on the sunk-cost bias may have to do with its ability to improve mood and decrease people’s focus on the future and past, the researchers suggest.

Source: Go.

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One comment on “Go Zen With the Markets
  1. bumby says:

    Thanks for posting this! Enlightening! I am in the middle of reading Thinking Fast and Slow and the biases we humans have are very humbling. The more I read about mindfulness, the more I can see it how it could help to mitigate those biases.

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