The Status Quo Bias Is Holding You Back

By Quickonomics on youtube.com

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In this step, you'll learn about the Status Quo Bias, which is a cognitive bias that causes people to prefer to keep things the way they are. The bias is caused by a combination of factors such as loss aversion, the endowment effect, and psychological inertia. To reduce the negative impacts of the Status Quo Bias, it is important to be aware of it, base decisions on facts instead of gut feeling, and to take enough time to make decisions.