Editing Status quo bias (section)

{{Short description|Cognitive bias}}
A '''status quo bias''' or '''default bias''' is a [[cognitive bias]] which results from a preference for the maintenance of one's existing state of affairs.<ref name="Samuelson" /> The current baseline (or status quo) is taken as a reference point, and any change from that baseline is perceived as a loss or gain. Corresponding to different alternatives, this current baseline or default option is perceived and evaluated by individuals as a positive.<ref name=":3">{{Cite journal |last1=Masatlioglu |first1=Yusufcan |last2=Ok |first2=Efe A. |date=2005-03-01 |title=Rational choice with status quo bias |url=https://www.sciencedirect.com/science/article/pii/S0022053104001115 |journal=Journal of Economic Theory |language=en |volume=121 |issue=1 |pages=1–29 |doi=10.1016/j.jet.2004.03.007 |issn=0022-0531|url-access=subscription }}</ref>

Status quo bias should be distinguished from a rational preference for the [[status quo]], as when the current state of affairs is objectively superior to the available alternatives, or when imperfect information is a significant problem. A large body of evidence, however, shows that status quo bias frequently affects human decision-making. Status quo bias should also be distinguished from [[psychological inertia]], which refers to a lack of intervention in the current course of affairs.

The bias intersects with other non-rational cognitive processes such as [[loss aversion]], in which losses comparative to gains are weighed to a greater extent.<ref name=":3" /> Further non-rational cognitive processes include existence bias, [[endowment effect]], longevity, mere exposure, and regret avoidance.  Experimental evidence for the detection of status quo bias is seen through the use of the [[reversal test]]. A vast amount of experimental and field examples exist. Behaviour in regard to economics, retirement plans, health, and ethical choices show evidence of the status quo bias.