Status Quo Bias: Difference between revisions
(Created page with "'''Our brains are lazy and we want to avoid cognitive load as much as possible. So we are hardwired to avoid tasks that cause us to change our mindset or that lead to cognitive burden – we’d rather just stick with the relaxed mind state we have at the minute than engage in something new and exhausting.''' It essentially makes us resistant to change, as we fear we’ll regret actively making choices (when doing nothing is also a “choice”). The status quo bias can...") |
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'''Our brains | '''[[Energy frugal brain|Our brains don't like to expend energy]], so we are hardwired to avoid tasks that cause us to [[Cognitive dissonance|change our mindset]] or that lead to cognitive burden – we’d rather just stick with the relaxed mind state we have at the minute than engage in something new and exhausting.''' | ||
It essentially makes us resistant to change, as we fear we’ll regret actively making choices (when doing nothing is also a “choice”). The status quo bias can, for example, lead to “loss aversion bias” – compelling us to focus on not losing. When in doubt, we essentially tell ourselves to do nothing. | It essentially makes us resistant to change, as we fear we’ll regret actively making choices (when doing nothing is also a “choice”). The status quo bias can, for example, lead to “loss aversion bias” – compelling us to focus on not losing. When in doubt, we essentially tell ourselves to do nothing. | ||
Revision as of 01:26, 2 June 2023
Our brains don't like to expend energy, so we are hardwired to avoid tasks that cause us to change our mindset or that lead to cognitive burden – we’d rather just stick with the relaxed mind state we have at the minute than engage in something new and exhausting.
It essentially makes us resistant to change, as we fear we’ll regret actively making choices (when doing nothing is also a “choice”). The status quo bias can, for example, lead to “loss aversion bias” – compelling us to focus on not losing. When in doubt, we essentially tell ourselves to do nothing.
Losses are be almost twice as psychologically harmful as gains are beneficial. In other words, most people feel twice as much psychological pain from losing US$100 (£82) as pleasure from gaining US$100. This bias means that people are reluctant to take risks by giving away what they possess in favour of something that “might” be more profitable to them in the future.
Some personality traits could influence your propensity to stick with the status quo. If you are open and curious about new things, less averse to taking risks and have a strong sense of duty (conscientiousness) you may be slightly less affected by this bias.