What is Status Quo Bias? Ask the Economics Speaker

[@marvinorquita9569]

I also don't like having so many choices because for me it only makes my mind more confused. Like my favorite crispy and juicy chicken wing dish. When my wife and I go to our favorite restaurant, my order always includes my favorite crispy and juicy chicken, even if they introduce a new dish that I think is delicious but I also think it’s a bit expensive, so I will still not exchange my usual classic chicken.

[@marvinorquita9569]

My wife and I had previously decided to switch to an internet provider because we were no longer satisfied with the quality of the current provider's services but until now we have remained with the same internet provider. It got to the point that we were hesitant to switch to another provider because there might be no difference and we were also thinking about the hustle of the process of applying to a new provider so we just stayed with our former internet provider.

[@marvinorquita9569]

No matter what, when I try and I like it, this is what I keep coming back to: even if someone introduces me to something new, I don't just change. I really find it difficult to move on when I’m used to something.

[@maetheldelossantos4613]

I have this habit that if I have headaches or any pain I always use ADVIL as a pain reliever even if the doctor advised me to switch to another medicine. II tend to resist and use medicines that are familiar to me. I think I have this status quo bias because I resist change in taking different medicine.

[@maetheldelossantos4613]

For me, I experienced this kind of bias. I tend to order the same coffee every time I go to a coffee shop because I rather give something that I know I like rather than taking a chance at something new.

[@maetheldelossantos4613]

Why do you think we are so resistant to change? It seems so obvious that to consider new options would improve our lives. Why can't we see it?

[@calnewport1227]

Thank you sir