The film Everest, released in 2015, told the story of a group of experienced climbers who scaled the mountain in 1996. At the time so many groups were climbing to the summit that different attempts had to be scheduled. One safety rule on Everest is that if you don’t reach the summit by 2.00 pm, then you have to descend and head back to camp before nightfall. As the different groups ascended, they experienced delays. Although some abandoned their ascent after the allotted time, many experienced climbers, frustrated by being so close to their goal, continued to the summit. When they descended, bad weather, increasing darkness and altitude sickness led to eight of them dying on the mountain.
This tragic story is an example of what economists call the “sunk-cost bias” which is where we continue to invest time, money, and effort into something after we know that the benefits may not be realised. This is the same as the phrase “throwing good money after bad”. For instance, a business invests in a new strategic direction, but then the market environment changes. Instead of adapting its approach, the business avoids the evidence and continues the same path. A personal example could be when you continue to watch a terrible film until the end because you’ve already sat through the first hour.
We’re always making decisions. One way of describing your situation in this very moment is that it’s the sum of all the different decisions you’ve made in your life up to now: the big ones, like education, career, and relationships, and the less conscious and habitual ones like checking your email or deciding what you’ll have for lunch. When we make decisions, thoughts, emotions, and intuition are involved, but not always consciously. We’re also influenced by external factors that can remain hidden, like cultural norms and advertising. To make good-quality decisions we need to be in the right state. If we’re stressed, anxious, or experiencing strong emotions, then the quality of our decision-making will suffer. So, when we make decisions, how aware are we of our thinking, emotions, intuition, and external factors?
Intuition is our ability to know something directly from the bottom-up, outside of conscious thought, which works from the top-down. Through mindful awareness, we become more attuned to our feelings and felt sense and more open to the subtle messages that the rich network of neural connections in our body provides.
Mindfulness research shows how practising mindfulness can improve decision-making in several ways:
- Mindfulness can help identify when a decision needs to be made, as well as clarify goals and frame the decision.
- Present-moment awareness reduces the influence of sunk-cost bias.
- Improved focus helps us identify options and resolve trade-offs.
- The awareness and skilful use of inner resources like thinking, emotions, and intuition improves the quality and speed of decision-making.
- People who practise mindfulness are less prone to the intention-behaviour gap, between knowing what to do and taking action.
- People who practise mindfulness are more open to feedback and learning from their experience.
Practicing mindfulness can help you access your full range of inner resources with improved attentional focus, cognitive clarity, emotional intelligence and resilience, and intuition. Although you can try this out in the sandwich shop, the research shows that practising mindfulness can make a significant difference when it comes to important decisions.
Suggested weekly practice
- See if you can notice the decisions you make during the day, from mundane ones like what you have for breakfast to the important decisions at work or in your personal life.
- Find a decision and explore using the whole of your inner resources including thoughts, emotions, and intuition. Also include your inner state, whether this is stressed and agitated or calm and relaxed.
- Reflect on some of the decisions you have made recently and explore how you made the decision and what inner resources were involved.
Guided practice
Find somewhere undisturbed and sit in a comfortable, dignified, and upright posture, where you can remain alert and aware.
There are two guided practices for this session. You can close your eyes, or lower your gaze while the meditations play.
- Play the settling practice, then read through the session content, which you can print off if that helps
- Then play the second audio to gently explore and experience being in the right state for mindful decision-making, including cognitive clarity, awareness of emotions, and intuition.