For the past five years,John S.has been purchasing Citizens of Humanity brand jeans each time he needs a new pair of jeans,even though a different brand,such as RocaWear or Ecko,would in all likelihood bring him more utility per dollar spent.A behavioral economist would suspect John S.is suffering from the ________ bias.
A) egocentric
B) choice-supportive
C) time-saving
D) status quo
E) outcome

Question

Quizplus · Accepted Answer

The status quo bias refers to the tendency of individuals to stick to the current or previous situations simply because it's familiar, comfortable, and requires less effort or cognitive load. In this case, John S. has been purchasing the same brand of jeans for the past five years, even though he could have gotten better value for his money by switching to a different brand. This behavior indicates that he is suffering from the status quo bias.

For the Past Five Years,John S