Although change is constant, why are we still afraid of it?

Have you ever wondered why do you usually stick to what's familiar to you in decision making? Is it because your zodiac sign is Taurus? or you're just happy to stick to what's working. Find out more about this status quo bias.

In this world of uncertainties and passing trends, only one thing is constant which is change. However, even if it is such a natural occurrence in our lives and no one can escape it, we still find it hard to accept or even scary at times which is why letting things stay just as it is, seem so appealing to many. This cognitive bias of preferring what is already tried and true is coined as status quo bias, a term often used in psychology as well as in the business industry.

Status quo bias can cloud our judgment of what is best for us by emphasizing more on the potential losses than potential gains.

Upon reflecting on my daily routine and habits, I realized that I am far from being the adventurous ‘dare devil’ I view myself to be. Because, I found out that in making decisions, it is almost automatic that I will stay within the comfort of familiarity and anything outside can cause tension. And, the fear of regret will overpower me thinking that the ‘new’ will be bad and I will just waste money, effort, or time. For instance, in choosing what milk tea flavor to drink I always prefer the old classic winter melon flavor that has been my companion since the beginning of the milk tea craze because the pain of choosing something new and regretting it is greater than the joy of liking a new flavor. It’s tempting to try a new seasonal flavor but I know that I will be very much satisfied with my usual. Looking deeply, status quo bias does minimize risks but it can result in missed out benefits or opportunities that may even outweigh the risks.

To unfold the reason behind this phenomenon, let’s address the giant elephant in the room and thoroughly examine why we usually leave things as it is. Research suggests that longevity and tradition often play a role in the tendency of preferring things as they are and that what is tried and true based on experience is much better than the new and improved (Baron & Branscombe, 2017). Age, although not all of the time, greatly affect our choice of what brand is much better quality as attested by an experimental study on the heuristic preference of the old over the new using chocolate as the independent variable (Eidelman, Pattershall & Crandall, 2010; Baron & Branscombe, 2017). Additionally, in the aspect of choosing political candidates, it is found that the new candidate is prone to public scrutiny, making flaws more prominent than a candidate who’s running for re-election because attention is less directed to them (Baron & Branscombe, 2017).

In light of this, one can say that status quo bias has made a big impact on our lives without us being consciously aware of it. It is as if our thinking about change hasn’t drastically evolved since the stone age when trying new things can be deadly as experimenting with a new hunting strategy or testing out liquids that may be poisoned.

Looking at it in a bigger picture, I find status quo bias as one of the remnants of our basic survival thinking.

However, in this new era with the existence of technology and great market competition, it is important to keep in mind that change can be an avenue for growth and stagnancy can be the barrier that limits one’s potentiality.

REFERENCE:

Baron, N. R., & Robert, A. (2017). Branscombe. Social psychology,” Amerika: Harlow: Pearson Education.