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Abstract

Status quo bias refers to people’s general preference to stick to, or continue with, a previously chosen option. In two pre-registered American online Amazon Mechanical Turk data collections (N1 = 311, N2 = 316), we attempted to replicate four decision scenarios from Samuelson and Zeckhauser (1988), the classic article that provided first experimental demonstration of the status quo bias. We found strong empirical support for the status quo bias in three decision scenarios: budget allocation (Question 1), investment portfolios (Question 2), and college job offers (Question 4). However, we failed to find conclusive support for the wagon color choices scenario (Question 6). We discuss implications of our results and possible explanations using multiple accounts suggested in the status quo bias literature.

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... Even if the information indicated a high state, similar to subjects in the experiment, admitting to this and choosing the state associated with the lower payoff lottery was more difficult for many decision-makers [46]. Samuelson & Zeckhauser [47] and Charness & Levin [34] in their studies identified regret avoidance and a taste for consistency, respectively as a possible reason for this status quo behavior; theories for status quo bias that continue to be supported by research [48][49][50]. The deviation from optimal choices was a common occurrence throughout all stages of the pandemic. ...
Preprint
Results from a behavioral economic laboratory experiment are used to enhance our understanding of public health decisions made during the COVID-19 pandemic. The identification of systematic biases from optimal decision theory found in controlled experiments could help inform public policy design for future public health crises. The laboratory and the shelter-in-place decisions made during COVID-19 included elements of risk, uncertainty and ambiguity. The lab findings found individuals adopt different decision rules depending on both personal attributes and on the context and environment in which the decision task is conducted. Key observations to consider in the context of the COVID-19 decision environment include the importance of past experience, the ability to understand and calculate the odds of each action, the size and differences in economic payoffs given the choice, the value of information received, and how past statistical independent outcomes influence future decisions. The academic space encompassing both public health and behavioral economics is small, yet important, particularly in the current crisis. The objective of continued research in this area would be to develop a more representative model of decision-making processes, particularly during crisis, that would serve to enhance future public health policy design.
Article
Statüko etkisi, mevcut ya da süregelen bir durumun, sadece öyle süregelmekte olduğu için tercih edilmesine yönelik bir bilişsel yanlılık olarak tanımlanmaktadır. Farkında olsak da olmasak da hayatlarımızın büyük bir kısmını etkilemektedir. Hayat boyu verdiğimiz binlerce kararda düşünsel zahmetten kurtulmak adına mevcut durumu veya süregelen tercihleri sürdürmeye meyletmekteyiz. Bu eğilim bizi çok enerji tüketen rasyonel düşünme zahmetine katlanmaktan alıkoyarken, irrasyonel kararlar almamıza da zemin hazırlamaktadır. Bu çalışmanın amacı bizi çoğu zaman eylemsizliğe iten bu yanlılığı açıklayacak teorik bir model önermektir. Literatür taraması sonucu statüko etkisinin açıklayanları kişisel özellikler ve başka bazı bilişsel yanlılıklar olarak ele alınmıştır. Bu yanlılıklar batık maliyet yanlılığı, kayıptan kaçınma ve ihmal yanlılığıdır. Öte yandan pişmanlıktan kaçınma davranışı da statüko etkisini doğrudan açıklama potansiyeli olan değişkenlerden biri olarak ele alınmıştır. Bilişsel yansıma değişkeni ise, insanların ikinci sistemlerini kullanabilme yeteneklerinin bir ölçüsü olarak, bütün bilişsel yanlılıkların temelinde olabileceği fikrinden hareketle modele dahil edilmiştir. Anahtar Kelimeler: Davranışsal İktisat, Statüko Yanlılığı, Bilişsel Yansıma, Batık Maliyet, İhmal Yanlılığı.
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