Status quo bias
We prefer the current situation. We tend to think its better than other alternatives.
This can be eliminated using the Reversal Test - consider that future to be the status quo and see if are willing to give up an advantage we might get to go back to the original situation. Example: We want to decide if we should move to another city to get a job with higher pay. Here status quo bias might influence you to stay. To eliminate it, ask yourself to imagine that you already have that job. Are you willing to take a pay cut to move back to your current city?
Cause
- Choice is often difficult, so we prefer to do nothing
- Mere-Exposure Effect
- Loss aversion