Lu, Jingyi; Xie, Xiaofei - In: Organizational Behavior and Human Decision Processes 124 (2014) 1, pp. 47-55
The status quo effect derived from loss aversion is common in decision making. However, we propose that advisors (vs. personal decision makers) are less susceptible to such an effect because they are less loss-averse. The difference in loss aversion between personal decision makers and advisors...