- Status quo bias
The status quo bias is a
cognitive bias for thestatus quo ; in other words, people tend not to change an established behaviour unless the incentive to change is compelling.The finding has been observed in many fields, including
political science andeconomics .Kahneman, Thaler and Knetsch created experiments that could produce this effect reliably. They attribute it to a combination of
loss aversion and theendowment effect , two ideas relevant toprospect theory .ee also
*
Conservatism
*List of cognitive biases
*System justification
*Situationism (psychology) References
* Samuelson, W. & R. J. Zeckhauser. (1988). Status quo bias in decision making. "Journal of Risk and Uncertainty", 1, pp. 7-59.
* Kahneman, D., Knetsch, J. L. & Thaler, R. H. (1991). Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias. "Journal of Economic Perspectives", 5, 1, pp. 193-206
* Johnson, E. J., Hershey, J., Meszaros, J., & Kunreuther, H. (1993). Framing, Probability Distortions, and Insurance Decisions. "Journal of Risk and Uncertainty", 7, pp. 35-51.
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