Status Quo Bias, Rationality, and Conservatism about Value

Ethics 125 (2):449-476 (2015)
Abstract
Many economists and philosophers assume that status quo bias is necessarily irrational. I argue that, in some cases, status quo bias is fully rational. I discuss the rationality of status quo bias on both subjective and objective theories of the rationality of preferences. I argue that subjective theories cannot plausibly condemn this bias as irrational. I then discuss one kind of objective theory, which holds that a conservative bias toward existing things of value is rational. This account can fruitfully explain some compelling aspects of common sense morality, and it may justify status quo bias.
Keywords cognitive biases  rationality  conservatism  value
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Reprint years 2015
DOI 10.1086/678482
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References found in this work BETA
New Work for a Theory of Universals.David Lewis - 1983 - Australasian Journal of Philosophy 61 (4):343-377.
On Ethics and Economics.Amartya Sen - 1989 - Tijdschrift Voor Filosofie 51 (4):722-723.

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