Solved: Do you think that a large contributor to status quo bias is related to being risk averse?

Do you think that a large contributor to status quo bias is related to being risk averse?

Expert Answer

Yes.This is totally true for the risk averse people. As any one who favors the status quo want to avoid any risky situation. The risk takers always want the situation to change and so want to change the status quo, but risk averse people favor the existing condition and do not want things to change and hence want to avoid the confrontation woth new changes and circumstances.

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