Here we explore what this bias entails, why it occurs, and how it impacts our lives.
What Is the Status Quo Bias?
Change can be a scary thing for many people, often being perceived as a loss or detriment.
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The status quo bias can make us resistant to change, also having a powerful effect on ourdecision-making strategies.
They involved situations often faced by individuals, managers, and government officials.
The results showed a strong status quo bias in subjects' responses.
A number ofother cognitive biasessupport its existence.
Conversely, older employees were more likely to stick with their old but less favorable plans.
Older employees may be more concerned with minimizing any possible losses rather than risking everything on some potential gains.
Additionally, the more exposure we have to something, the stronger this effect becomes.
Larger Impacts
The status quo bias can also have an impact on more significant life choices.
This includes those that affect our finances, political choices, and even our health.
A person with this political mindset may seek to avoid risks associated with change.
But they also risk missing out on possible benefits that change might bring.
They may also find it difficult todeal with change.
Health
A status quo bias can also have an impact on the health choices that people make.
The status quo bias may even affect our decisions to continue or discontinue life-sustaining treatment for loved ones.
Summary
Like many other cognitive biases, the status quo bias does have benefits.
Because it prevents people from taking risks, the bias offers a certain degree of protection.
However, thisrisk avoidancecan also have negative effects.
This is especially true if the alternatives provide greater safety and benefits than one’s current state of affairs.
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