Decision & ChoiceBias #09

Status Quo Bias

We often prefer things to stay the same.

An emotional preference for the current state of affairs, where any change is perceived as a loss, even when the change would be beneficial.

Why it matters: Works alongside loss aversion and inertia. Explains why defaults are so powerful in behaviour change.

Watch for

Treating "what is" as if it were automatically "what should be."

Try this

Compare the cost of staying put with the cost of changing.

Real-world example

Choosing the default subscription plan without comparing alternatives.

Key researchers

William Samuelson, Richard Zeckhauser

First described in 1988

Psychological mechanism

Conjoint Action of Loss Aversion and Regret Avoidance. The potential disadvantages of changing a situation loom twice as large as the potential advantages. Furthermore, humans feel significantly deeper psychological regret for a negative outcome caused by taking an active step (commission) than for an identical negative outcome caused by inaction (omission).

Seminal research

William Samuelson and Richard Zeckhauser (1988), "Status quo bias in decision making," published in the Journal of Risk and Uncertainty.