Status Quo Bias

Status quo bias is a cognitive bias; an irrational preference for the current state of affairs. The current baseline (or status quo) is taken as a reference point, and any change from that baseline is perceived as a loss. 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 an irrational preference for the status quo--a status quo bias--frequently affects human decision-making.

Status quo bias interacts with other non-rational cognitive processes such as loss aversion, 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. Behavior in regards to retirement plans, health, and ethical choices show evidence of the status quo bias.

Read more about Status Quo Bias:  Examples, Explanations

Other articles related to "status quo bias, status quo":

System Justification - Critiques - Relation To Status Quo Bias
... critique is that SJT is too similar and indistinguishable to status quo bias ... both deal directly with upholding and legitimizing the status quo, this critique is not unfounded ... But system justification theory differs from the status quo bias in that it is predominately motivational rather than cognitive ...
History Of Schleswig-Holstein - 19th Century - Schleswig-Holstein Question - First War of Schleswig
... rejected her mediation, threatened to send her fleet to assist in preserving the status quo ... of the administration supported a strict adherence to the status quo ... weariness Prussia proposed a definitive peace on the basis of the status quo ante bellum and the postponement of all questions as to mutual rights ...
Status Quo Bias - Relevant Fields - Retirement Plans
... An example of the status quo bias affecting retirement plans is a study done that examined the U.S ...

Famous quotes containing the words bias, status and/or quo:

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