status quo bias and default options

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1、StatusQuoBiasandDefault4OptionsJillisatransferstudentwhoarrivedoncampusseveralmonthsago,decidingtoliveoffcampus.Whenshewashungryonherfirstdayafterarriving,shewalkedaroundthestreetnearherapartment,wheredozensofrestaurantswerelocated.Eachoftherestaurantslooke

2、dgood,andeventuallyshedecidedsimplytowalkinthenextoneshecameacross.Sincethattime,shehastriedsomeoftheotherrestaurantsnearby,andsomeareverygood,butshemostofteneatsatthatsamerestaurant.Itisnotthenearesttoherapartment,butnonethelesssheconsidersitworththewalk.

3、Consideralsoapersonwhoisbuyingautoinsuranceforthefirsttime,meetingwiththeinsuranceagent.Thepoliciesarerathercomplicatedandinvolvemakingdecisionsregardingseveraldifferentparameters(e.g.,collisioncoverage,deductibles).Thepurchaserdesiresagoodpriceontheinsuran

4、cepolicy,butshefindsitdifficulttodeterminehowlikelyitisthatshewillneedeachtypeofcoverage,todeterminethelevelofcoverageshewouldneed,andtodecidehowoftenshewouldneedtopaythedeductible.Afterdescribingallofthepotentialparametersandoptions,theagentsays,“Hereisours

5、tandardpolicy,”pushingacrossthedeskapacketofpaperdescribingthetypesofcoverageincludedinthestandardpolicy.“Itispossibletoaddanyoftheextrasorsubtractmanyoftheoptionsfromthis,butthisisthepolicywerecommend.”Afterconsideringforacoupleofminutes,thepurchaserdecid

6、estopurchasethestandardpolicy.Later,whenshehasthechancetoreexamineherpolicyuponrenewal,sheoptstocontinuewiththestandardpackage.Asingledecision—orevenachanceevent—cansetuphabitualbehaviorthatcontinuesforlongperiodsoftimerelativelyunexamined.Thefactthatoneha

7、salwayswalkedapar-ticularwaytoworkmightleadonetocontinuetowalkthatwaytoworkevenifonediscoversotherroutesaremorescenicorshorter.Further,whenother,potentiallymoredesirable,optionsarepresented,peoplemightresistchangealtogether.Peopleoftenshapetheirviewoftheco

8、rrectchoicebytheactionsthatseemtobesuggestedbythesituation.Inmanycases,adefaultoptionisavailable.Adefaultoptionisonethatisautomaticallyselectedwhenthedecisionmakerexpressesnoexplicitchoice.Forexample,manybran