Mere Exposure
Mere exposure is an explanation for the status quo bias. Existing states are encountered more frequently than non-existent states and because of this they will be perceived as more true and evaluated more preferably. One way to increase liking for something is repeated exposure over time.
- Loss aversion
Loss aversion also leads to greater regret for action than for inaction; more regret is experienced when a decision changes the status quo than when it maintains it. Together these forces provide an advantage for the status quo; people are motivated to do nothing or to maintain current or previous decisions. Change is avoided, and decision makers stick with what has been done in the past.
Changes from the status quo will typically involve both gains and losses, with the change having good overall consequences if the gains outweigh these losses. A tendency to overemphasize the avoidance of losses will thus favor retaining the status quo, resulting in a status quo bias. Even though choosing the status quo may entail forfeiting certain positive consequences, when these are represented as forfeited "gains" they are psychologically given less weight than the "losses" that would be incurred if the status quo were changed.
- Omission bias
Omission bias may account for some of the findings previously ascribed to status quo bias. Omission bias is diagnosed when a decision maker prefers a harmful outcome that results from an omission to a less harmful outcome that results from an action (Ilana Ritov and Jonathan Baron, "Status-Quo and Omission Biases," Journal of Risk and Uncertainty 5 : 49–61).
Read more about this topic: Status Quo Bias, Explanations
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