Cognitive biases and mindfulness
Humanities & Social Sciences Communications February 7, 2021 Philip Z. Maymin, Ellen J. Langer
A brief mindfulness induction—asking people to notice three new things and compare images—reduced susceptibility to 19 out of 22 cognitive biases, including the endowment effect, overconfidence, mental accounting, anchoring, and loss aversion. Participants who received the induction also scored higher on 11 of 14 items measuring traits of novelty-seeking, novelty producing, and engagement. The induction was unrelated to the later bias questions and required no meditation, training, or statistical education. The authors argue that simply increasing momentary mindfulness can improve decision-making.