Status Quo Bias

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...

Awareness and attention were the holy grails of every marketing strategy, so the way you became successful was to pay for more of both. But there’s a subtle change taking place. 

People are choosing to spend their money with companies that take the time to get to know them ...

One possible reason for the "optimism bias" is found in the way we learn new information. People are quicker to change their beliefs when the information is better than expected, compared to information that is worse than expected.

• If people were told that lockdown would be eased ...