Is Status Quo Bias Consistent With Downward Sloping Demand?

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.

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Year of publication:	2005-02-01
Authors:	Wittman, Donald
Institutions:	Economics Department, University of California-Santa Cruz (UCSC)
Subject:	Status quo bias

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Extent:	application/pdf
Series:	Santa Cruz Department of Economics, Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Department of Economics, UCSC
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010843047