Status quo bias, particularly the loss aversion explanation, may have applicability to the situation that I (along w/ EllenBeth Wachs and Rob Curry) have faced -- and continue to face -- since the 11/6/2011 coup détat. 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.
Posted on: Fri, 15 Nov 2013 15:02:31 +0000
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