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...