Editing Status quo bias (section)

=== Price management ===
Status quo bias provides a maintenance role in the theory-practice gap in price management, and is revealed in Dominic Bergers’ research regarding status quo bias and its individual differences from a price management perspective.<ref name=":2">{{Cite journal |last=Bergers |first=Dominic |date=2022-01-01 |title=The status quo bias and its individual differences from a price management perspective |url=https://www.sciencedirect.com/science/article/pii/S0969698921003593 |journal=Journal of Retailing and Consumer Services |language=en |volume=64 |pages=102793 |doi=10.1016/j.jretconser.2021.102793 |s2cid=239971577 |issn=0969-6989|url-access=subscription }}</ref> He identified status quo bias as a possible influencer of 22 rationality deficits identified and explained by Rullkötter (2009),<ref>{{Cite book |last=Rullkötter |first=Lydia |url=https://worldcat.org/oclc/859358107 |title=Rationalitätsdefizite im Preismanagement Eine empirische Untersuchung |date=2009 |publisher=Beuth Verlag GmbH |isbn=978-3-410-17308-3 |oclc=859358107 |language=de}}</ref> and is further attributed to deficits within Simon and Fassnacht’s (2016) price management process phases.<ref>{{Citation |last1=Simon |first1=Hermann |title=Preismanagement für Konsumgüter |date=2016 |url=http://dx.doi.org/10.1007/978-3-658-11871-6_10 |work=Preismanagement |pages=431–459 |place=Wiesbaden |publisher=Springer Fachmedien Wiesbaden |isbn=978-3-658-11870-9 |access-date=2022-04-29 |last2=Fassnacht |first2=Martin|doi=10.1007/978-3-658-11871-6_10 |url-access=subscription }}</ref> Status quo bias remained as an underlying possible cause of 16 of the 22 rationality deficits. Examples of these can be seen within the analysis phase and implementation phase of price management processes.

Bergers reveal that status quo bias within the former price management process phase potentially led to complete reliance on external information sources that existed traditionally. This bias, through a price management perspective, can be demonstrated when monitoring competitor’s pricing. In the latter phase, status quo bias potentially led to the final price being determined by decentralised staff, which is potentially perpetuated by existing system profitability within price management practices.<ref name=":2" />