How Status Quo Bias Affects Your Decisions - Deepstash

Bite-sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

created 3 ideas

THOUGHTCO

How Status Quo Bias Affects Your Decisions

How Status Quo Bias Affects Your Decisions

thoughtco.com

STASHED IN:

1.8K reads

Status quo bias

Status quo bias is when we prefer that our environment and situation should remain unchanged.

The bias has the most impact in the area of decision-making, as we tend to prefer the more familiar choice over the less familiar, but often better, option.

These explanations are all irrational for preferring the status quo:

  • Loss Aversion: When we make decisions, we weigh the potential for loss more heavily than the potential for gain.
  • Sunk Costs: We continue to invest resources like time, mone...

  • When offered several sandwich options, individuals often choose a sandwich they have eaten before.
  • In 1985, Coca Cola reformulated the original Coke flavor and started selling a "New Coke." Although blind taste tests found many consumers preferred New Coke, consumers cont...

8 Reactions

Comment

MORE LIKE THIS

created 7 ideas

Another Physiological effect that you must utilize in your designs to create more effective and goal oriented designs

1

Comment

77 reads

It's time to

READ

LIKE

A PRO!

Jump-start your

reading habits

, gather your

knowledge

,

remember what you read

and stay ahead of the crowd!

Takes just 5 minutes a day.


TRY THE DEEPSTASH APP

+2M Installs

4.7 App Score