|status quo bias beispiel||1.3||0.2||6658||58|
The status quo bias describes our preference for the current state of affairs; resulting in resistance to change. Most of us work & live in environments that aren’t optimized for solid decision-making. We work with organizations of all kinds to identify sources of cognitive bias & develop tailored solutions.What is a status quo alternative?
RICHARD ZECKHAUSER Harvard University Key words: decision making, experimental economics, status quo bias, choice model, behavioral economics, rationality Abstract Most real decisions, unlike those of economics texts, have a status quo alternative-that is, doing noth- ing or maintaining one’s current or previous decision.How do you determine whether a study is bias-free?
That is, for bias-free subjects, y should be nearly equal to (but slightly less than) X. On the other hand, if status quo bias is signifi- cant, one would expecty > x, reflecting a preference for the status quo (regardless of what the status quo is).Do decision makers ex-hibit the status quo?
This article reports the results of a series of decision-making experiments designed to test for status quo effects. The main finding is that decision makers ex- hibit a significant status quo bias.