Inertia Traps Consumers in Unsatisfying Choices, Limits Societal Progress
The study introduces a model called Limited Attention Status Quo Bias, which shows how our tendency to stick with the status quo affects our choices by changing our preferences and focusing our attention. This model helps explain why we are more likely to stick with the status quo when faced with many options and how introducing a status quo can influence our decisions between different options. The researchers conducted experiments that confirmed both attention and preference play a role in how the status quo impacts our choices.