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Obstacle to change: The status quo bias |
MENA Dubai 2003 Abstract
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Maya Bar Hillel
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Change is costly. For that reason, the status quo has an advantage over possible alternatives. However, the status quo seems to have an advantage over its alternatives even when cost (real cost, not psychological cost) is removed. The talk presents experimental evidence backing up this claim, for a variety of situations, and in particular for policy issues.
The theoretical interpretation is in terms of Loss Aversion. The talk will also offer practical suggestions for how to overcome, or exploit, the status quo bias in negotiations and conflict resolution. |
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