status quo bias
/ˌsteɪtəs ˌkwoʊ ˈbaɪəs/
preference for the current state of affairs
status quo bias in a sentence
“Status quo bias keeps people with suboptimal investments.”
Origin of status quo bias
Latin status quo the state in which + bias
Related Words
mental accounting
treating money differently based on subjective categories
nudge
subtle policy changes that guide behavior without mandates
bounded rationality
decision-making limited by information, time, and cognitive capacity
loss aversion
the tendency to prefer avoiding losses over acquiring gains
anchoring
over-relying on the first piece of information encountered
endowment effect
valuing something more simply because you own it