What is the difference between the status quo bias and the default option bias?
A) No difference.
B) The default option bias is a bias that occurs when there is a preference for a default option and a status quo bias is a bias that results from a preference for the currently chosen option.
C) The default option bias is a bias that occurs when there is a preference for a default option and a status quo bias is a bias for what other individuals have chosen.
D) The default option bias is a preference for failing to pay back loans, whereas a status quo bias is a bias that results from a preference for the currently chosen option.

Question

Quizplus · Accepted Answer

The default option bias refers to the tendency to stick with a pre-selected option, while the status quo bias is the preference to maintain the current state or decision.

What Is the Difference Between the Status Quo Bias and the Default