Afford Anything cover image

The Power of Knowing When To Walk Away

Afford Anything

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What's Status Quo Bias?

We have ambiguity aversion. We don't like to move into things that are unknown. So if I stick, there's some range of possible outcomes. Some of them are good and some of them are bad. And I'm making some educated guesses about what the expected value of sticking is. But in either case, we have to make a guess. There's less uncertainty associated with it than we do switching to something that's unknown.

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