When people want to maintain their current lifestyles and are reluctant to change,they may exhibit what is known as the
A) hot-hand fallacy.
B) gambler's fallacy.
C) status quo bias.
D) hot-hand bias.
E) gambler's bias.

Question

Quizplus · Accepted Answer

The status quo bias refers to a person's preference for maintaining the current situation or decision, even when there are better alternatives available. This bias often stems from a reluctance to change and a desire to avoid potential losses, discomfort, or the effort required to adapt to new circumstances. The other choices (A), (B), (D) and (E) are related to biases related to random sequences or patterns of outcomes, which are not directly relevant to this scenario.

When People Want to Maintain Their Current Lifestyles and Are