Status-quo bias is:
A) a person's choice being influenced by others' opinions.
B) a reluctance to make active decisions to change something, even if it is fairly easy to do so.
C) not overcome in the SMarT program because saving is not the default option.
D) All of these statements are true.

Question

Quizplus · Accepted Answer

Status-quo bias is a tendency to stick with the current situation and avoid making changes. This is often due to a fear of making the wrong decision or a belief that the current situation is somehow better than any other alternatives. Thus, option B is the best choice as it defines status-quo bias accurately. Options A and C are not relevant to the definition of status-quo bias.

Status-Quo Bias Is