status-s [Biases & Fallacies]

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====== Steve: Status Quo Bias ======

By: [[steve-wang]]

The the Status Quo Bias is where people want things to stay the same and resist change. Everyone falls into the Status Quo Bias because of a many reasons. Some of them include, people feel loss more heavily then gain, people overvalue what they have, it is tiring to make decisions, also, people are also scared of uncertainty. People get trapped by the Status Quo Bias more easily during their teenaged years. These reasons teenaged years are the age where people form their identity, hormonal changes, and anchoring bias(people remember their first experiences more and compare future experiences to it). An example of an experience that may be hard for teenagers to move past is, if they broke a bone while playing a sport which caused them to not be able to play for half a year. This may have prevented them from being able to join the school team and participate in competitions. In the future, they may look at this part of their life with regret and be very careful so that they will not break another bone and miss another big opportunity. This shows that this person will not change the way they think and they way they act. Another example could be they had a stomach ache during a big exam and got teased for being stupid. In the future if they might avoid exams so as to not embarrass themselves but in turn miss out on many opportunities. They have formed the habit of running away from exams and whenever they have to do an exam, they may be thinking of this issue and may not be able to focus.