Answer this question to the best of your ability:
What is sunk-cost bias and how does mindfulness appear to reduce it?
Sunk-cost bias refers to our tendency to stay invested in a losing proposition simply because we've already spent time, money or resources on it. This concept often comes into play in financial decision making. Mindfulness practice seems to mitigate this tendency. Researchers have found that mindfulness encourages a more detached and objective perspective towards decisions, which can help individuals recognize when it is better to cut their losses and move on from a situation. By being present and fully aware of our thoughts and emotions, we are less likely to act impulsively based on past investments or commitments.