We introduce and axiomatically characterize a model of status quo bias in which the status quo affects choices by both … changing preferences and focusing attention. The resulting Limited Attention Status Quo Bias model can explain both the finding … that status quo bias is more prevalent in larger choice sets and that the introduction of a status quo can change choices …

We introduce and axiomatically characterize a model of status quo bias in which the status quo affects choices by both … changing preferences and focusing attention. The resulting Limited Attention Status Quo Bias model can explain both the finding … that status quo bias is more prevalent in larger choice sets and that the introduction of a status quo can change choices …

termed status quo bias. We present the probabilistic dominance approach to status quo bias: an alternative is considered …