Status quo bias is an emotional bias; a preference for the maintenance of one's current or previous state of affairs, or a preference to not undertake any action to change this current or previous state.[1] The current baseline (or status quo) is taken as a reference point, and any change from that baseline is perceived as a loss or gain. Corresponding to different alternatives, this current baseline or default option is perceived and evaluated by individuals as a positive.[2]
Status quo bias should be distinguished from a rational preference for the status quo ante, as when the current state of affairs is objectively superior to the available alternatives, or when imperfect information is a significant problem. A large body of evidence, however, shows that status quo bias frequently affects human decision-making. Status quo bias should also be distinguished from psychological inertia, which refers to a lack of intervention in the current course of affairs.
The bias intersects with other non-rational cognitive processes such as loss aversion, in which losses comparative to gains are weighed to a greater extent.[2] Further non-rational cognitive processes include existence bias, endowment effect, longevity, mere exposure, and regret avoidance. Experimental evidence for the detection of status quo bias is seen through the use of the reversal test. A vast amount of experimental and field examples exist. Behaviour in regard to economics, retirement plans, health, and ethical choices show evidence of the status quo bias.
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^ abMasatlioglu, Yusufcan; Ok, Efe A. (2005-03-01). "Rational choice with status quo bias". Journal of Economic Theory. 121 (1): 1–29. doi:10.1016/j.jet.2004.03.007. ISSN 0022-0531.
Statusquobias is an emotional bias; a preference for the maintenance of one's current or previous state of affairs, or a preference to not undertake...
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Endowment Effect, Loss Aversion, and StatusQuoBias, Journal of Economic Perspectives. Dean, M. (2008) 'Statusquobias in large and small choice sets',...
other philosophers who have come up with or shared additional reasons. StatusQuoBias, humans tend to dislike change, especially when considering the thought...
and statusquobias". Journal of Economic Perspectives. 5: 193–206. doi:10.1257/jep.5.1.193. Kaivanto, K.; Kroll, E. B. & Zabinski, M. (2014). "Bias Trigger...
and war. John Mearsheimer's offensive neorealism intends to fix the "statusquobias" of Kenneth Waltz's defensive neorealism. While both neorealist variants...
a tribute of thousands of people every day. The story explores how statusquobias and learned helplessness can prevent people from taking action to defeat...
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International Security 19:1 (Summer 1994) and Randall Schweller, "Neorealism's Status-QuoBias: What Security Dilemma?" Security Studies 5:3 (Spring 1996). His current...
because of loss aversion, information deficiencies, procrastination, status-quobias or endowment effects. This allows firms to exploit this behaviour through...
Richard H. (1991). "Anomalies: The Endowment Effect, Loss Aversion, and StatusQuoBias". The Journal of Economic Perspectives. 5 (1): 193–206. doi:10.1257/jep...
the endogenous prospect theory of Imperfect Knowledge Economics, the statusquobias, various gambling and betting puzzles, intertemporal consumption, and...
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particular the equity premium puzzle, the asset allocation puzzle, the statusquobias, various gambling and betting puzzles, intertemporal consumption and...
class forecasting Representativeness heuristic Simulation heuristic Statusquobias Kahneman, Daniel (1973). Attention and Effort. Prentice-Hall. Kahneman...
options and may limit their ability to find an optimal solution. StatusquobiasStatusquobias describes the tendency of people to keep things as they are...
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