Mindfulness and financial decision making: an exploratory onvestigation into the effects of mindfulness interventions on making financial decisions

Abstract

This study investigates whether a mindfulness interventionhasan effect on financial decision making. Based on aliterature review, this thesis hypothesizes that state mindfulness improves the outcomes of financial decisions,measured through the performance in the Iowa Gambling Task. Further, it hypothesizes that the relationship is mediated by affect and temporal focus.The results of the experimental study (N = 78) show that participants who meditated performed significantly worse in the financial decision-making task than the control group. Accordingly,the findings are not consistent with the hypothesis and contribute to the growing literature on the negative effects of mindfulness.