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Is Status Quo Bias Consistent With Downward-Sloping Demand?

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  • DONALD WITTMAN

Abstract

"We show that status quo bias combined with downward-sloping demand implies addictive behavior. This result does not depend on transitivity, a complete ordering, or even the existence of a preference relation that rationalizes choices." ("JEL" D11, D81) Copyright (c) 2007 Western Economic Association International.

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Bibliographic Info

Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 46 (2008)
Issue (Month): 2 (04)
Pages: 283-288

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Handle: RePEc:bla:ecinqu:v:46:y:2008:i:2:p:283-288

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  1. Masatlioglu, Yusufcan & Ok, Efe A., 2005. "Rational choice with status quo bias," Journal of Economic Theory, Elsevier, Elsevier, vol. 121(1), pages 1-29, March.
  2. Matthew Rabin, 2006. "A Model of Reference-Dependent Preferences," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 121(4), pages 1133-1165, November.
  3. Walter Bossert & Yves Sprumont, 2009. "Non-Deteriorating Choice," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 76(302), pages 337-363, 04.
  4. Michael Mandler, 2004. "Status quo maintenance reconsidered: changing or incomplete preferences?," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 114(499), pages F518-F535, November.
  5. Knetsch, Jack L, 1989. "The Endowment Effect and Evidence of Nonreversible Indifference Curves," American Economic Review, American Economic Association, American Economic Association, vol. 79(5), pages 1277-84, December.
  6. Munro, Alistair & Sugden, Robert, 2003. "On the theory of reference-dependent preferences," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 50(4), pages 407-428, April.
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