|status quo bias in healthcare||0.63||0.1||4051||54|
Status quo bias affects all kinds of decisions, from relatively trivial choices (e.g. which soda to purchase) to very significant choices (e.g. which health insurance plan to select). The term "status quo bias" was first used by researchers William Samuelson and Richard Zeckhauser in a 1988 article called " Status quo bias in decision-making ."Is there a status quo bias in the BCBS low option?
Like Sherlock Holmes’s dog that didn’t bark in the night, the minimal status quo bias in the BCBS low option case is highly significant. Current enrollees in the standard BCBS coverage transferred in significant numbers to BCBS low option. Why might they have done so?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).