Editing Status quo bias (section)

=== Mutual fund market ===
An empirical study conducted by Alexandre Kempf and Stefan Ruenzi examined the presence of status quo bias within the U.S. equity mutual fund market, and the extent in which this depends on the number of alternatives given.<ref>{{cite journal |last=Kempf |first=Alexandre |author2=Stefan Ruenzi |year=2006 |title=Status Quo Bias and the Number of Alternatives: An Empirical Illustration from the Mutual Fund Industry |journal=Journal of Behavioral Finance |volume=7 |issue=4 |pages=204–213 |citeseerx=10.1.1.545.8974 |doi=10.1207/s15427579jpfm0704_3 |s2cid=216137059}}</ref> Using real data obtained from the U.S. mutual fund market, this study reveals status quo bias influences fund investors, in which a stronger correlation for positive dependence of status quo bias was found when the number of alternatives was larger, and therefore confirms Samuelson and Zeckhauser (1988) experimental results.<ref name="Samuelson" />