Status Quo Bias 👍
🧠 Psych - 27 / 100
Hey,
Today, We will be talking about Status Quo Bias 👍.
What is it?
In many situations, You would choose to keep things as they are rather than actively changing them.
Example -
Sticking to your default option. Like when you prefer to buy a product from a known brand rather than from a new brand.
Where does it occur?
As it is a Cognitive Bias, you will notice it happening in your decision making practises.
It can also affect your behaviour as you do things certain way, subconsciously.
Why do I need to know?
Change can be a scary thing but most of the times, it holds back people from opportunities which might’ve rewarded them.
By being aware of it, You will be able to carefully weigh all the considerations and options before making a decision. Default is not always the right choice.
Takeaways:-
We fear loss and thus, prefer to do things the default way. It can make you lose out on opportunities.
While it helps to avoid risks, it might not be the case all the time.
References & Studies:-
https://www.verywellmind.com/status-quo-bias-psychological-definition-4065385
https://www.economicshelp.org/blog/glossary/status-quo-bias/
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