The effects of cognitive load and mindfulness meditation on decisions related to risk and time

This study explores how cognitive load and a preventive mindfulness meditation impact decisions related to risk and time. For this, we use a controlled laboratory experiment with university students and a sequential design in which we elicit their risk and time attitudes twice. First, we elicit them in a baseline scenario. This is followed by an intervention period, in which we vary the presence of a one-time brief guided mindfulness meditation exercise. In second elicitation period, we then vary the inclusion of a cognitive load task. To measure potential physiological responses to cognitive load and mindfulness meditation, we continuously track participants’ heart rates using fitness watches throughout the experiment. We find that in treatments with cognitive load the average heart rate increases relatively more during the second elicitation than in those without it, suggesting an acute physiological response. While a neutral waiting period does not affect risk-related choices post-intervention, the one with a guided mindfulness meditation reduces the probability of risk seeking choices and decreases the probability of individuals to make no changes in choices, in the subsequent treatment with cognitive load. Attitudes towards time remain consistent.