Behavioural Economics Primer: Status quo bias
Behavioural economics
This article is part of Warc's Behavioural Economics Primer.
Status quo bias is a preference for the current state of affairs. We often avoid change; and if faced with a choice tend to go-with-the-flow of pre-set options or defaults.
We can be cognitive misers, with limited time and energy to focus on every decision. For ease, we often just accept defaults, or stick with what we've always done – the status quo – without considering other, possibly better options.
Status quo bias is also...