Inattention and status quo bias trap consumers in unfavorable choices
The article talks about how people tend to stick with the current option (status quo) even when better choices are available. The researchers created a model that shows this happens because our attention is limited, and we get used to the current situation. This model can explain why we are more likely to stick with the status quo when there are many options to choose from. It also explains why introducing a status quo can change our choices between other options. The researchers did experiments that confirmed both attention and psychological factors play a role in why we stick with the status quo.