Search results
Results From The WOW.Com Content Network
Status quo bias has been attributed to a combination of loss aversion and the endowment effect, two ideas relevant to prospect theory.An individual weighs the potential losses of switching from the status quo more heavily than the potential gains; this is due to the prospect theory value function being steeper in the loss domain. [1]
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.
Status quo bias, the tendency to prefer things to stay relatively the same. [76] [77] 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.
Status quo is a Latin phrase meaning the existing state of affairs, particularly with regard to social, economic, legal, environmental, political, religious, scientific or military issues. [1] In the sociological sense, the status quo refers to the current state of social structure or values. [ 2 ]
Status quo bias Tendency to hold to the current situation rather than an alternative situation, to avoid risk and loss ( loss aversion ). [ 31 ] In status quo bias, a decision-maker has the increased propensity to choose an option because it is the default option or status quo .
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.
It appears the status quo is the way to go involving three UH-related situations : 1. Ching Complex UH's on-campus football facility has been criticized for its scrunched seating, dearth of ...
The heuristic attribute in this case is a "warm glow"; a positive feeling towards someone that might either be due to their being familiar or being attractive.