Association between mindfulness and risk and time preferences

Sébastien Duchêne, Marlène Guillon () and Ismaël Rafaï
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Sébastien Duchêne: Montpellier Business School
Marlène Guillon: Université de Montpellier, Montpellier Recherche en Economie
Ismaël Rafaï: Aix-Marseille Université, CNRS, AMSE

Journal of the Economic Science Association, 2024, vol. 10, issue 2, No 2, 199-212

Abstract: Abstract Many studies have investigated the role of socio-demographic factors (including gender, age, race), cognitive ability and cultural factors on time and risk preferences. Yet, research regarding the effect of mindfulness on risk and time preferences has been limited. This study investigates the association between mindfulness and time/risk preferences. We conducted a survey on a representative sample of the French adult population (N = 1154) in Spring 2020. We assessed individual mindfulness through the Mindful Attention Awareness Scale (MAAS), and measured time and risk preferences with incentive-compatible economic games as well as self-reported questionnaires. Our results suggest that a higher level of mindfulness is associated with higher risk aversion and patience for stated preferences, but we found no relationship for revealed ones. We also observe that a higher level of mindfulness is related to greater time consistency, as we found a negative and significant association between the MAAS and the present and future biases.

Keywords: Mindfulness; Risk preferences; Time preferences; Revealed preferences; Stated preferences (search for similar items in EconPapers)
JEL-codes: C31 C93 D91 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s40881-024-00169-3

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