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A status quo bias or default bias is a cognitive bias which results from a preference for the maintenance of one's existing state of affairs. [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.
Status quo bias, the tendency to prefer things to stay relatively the same. [75] [76] System justification, the tendency to defend and bolster the status quo. Existing social, economic, and political arrangements tend to be preferred, and alternatives disparaged, sometimes even at the expense of individual and collective self-interest.
System justification theory is a theory within social psychology that system-justifying beliefs serve a psychologically palliative function. It proposes that people have several underlying needs, which vary from individual to individual, that can be satisfied by the defense and justification of the status quo, even when the system may be disadvantageous to certain people.
In status quo bias, a decision-maker has the increased propensity to choose an option because it is the default option or status quo. Has been shown to affect various important economic decisions, for example, a choice of car insurance or electrical service .
The reversal test is a heuristic designed to spot and eliminate status quo bias, an emotional bias irrationally favouring the current state of affairs.The test is applicable to the evaluation of any decision involving a potential deviation from the status quo along some continuous dimension.
After all, unhappy people tend to challenge the status quo. The murder of UnitedHealthcare CEO Brian Thompson last week set off a torrent of complaints about fairness in healthcare costs, making ...
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. [63]
A sorry fact: Most workplaces, despite a historic diversity, equity, and inclusion push, are still rife with racial and gender bias. For evidence, look to the macro landscape: Just 1.6% of Fortune ...