We introduce and axiomatically characterize a model of status quo bias in which the status quo affects choices by both changing preferences and focusing attention. The resulting Limited Attention Status Quo Bias model can explain both the finding that status quo bias is more prevalent in larger...

In the problems of choosing "aspirations" for coalitional games, we study two axioms, "MW-consistency" and "converse MW-consistency",introduced by Moldovanu and Winter (1994). We mainly consider two domains: thedomain of all NTU games and the domain of all TU games. In particular, westudy which...

We introduce and axiomatically characterize a model of status quo bias in which the status quo affects choices by both changing preferences and focusing attention. The resulting Limited Attention Status Quo Bias model can explain both the finding that status quo bias is more prevalent in larger...

This paper analyzes a small, open economy whose citizens have single-peaked preferences on the tariff rate for an import good. They publicly declare this rate to the government, which has discretion in implementing it. While the government has an incentive not to deviate too much from the...