Status quo bias in decision making
William Samuelson and Richard Zeckhauser report a series of decision-making experiments together with data on faculty members' choices of health plans and retirement programs. They find that individuals disproportionately stick with the status quo, and that the bias is substantial in important real decisions. The abstract notes that economics, psychology and decision theory each offer possible explanations for it.
William Samuelson and Richard Zeckhauser report a series of decision-making experiments together with data on faculty members' choices of health plans and retirement programs. They find that individuals disproportionately stick with the status quo, and that the bias is substantial in important real decisions. The abstract notes that economics, psychology and decision theory each offer possible explanations for it.
Written from the abstract as published with the paper, read 2026-10-28.
What our sources record
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Samuelson, W., & Zeckhauser, R. (1988). Status quo bias in decision making. Journal of Risk and Uncertainty, 1(1), 7-59. doi:10.1007/BF00055564 https://doi.org/10.1007/BF00055564