Default Effect and Status Quo Bias

People have a liking for the ‘Status Quo’. This liking often makes them pick the default option more often than not. One of the secrets to great influence is to make the choices for people so that it is in the interest of the greater good. Setting up these choices as default could be the key to good behaviour.
Watch Rolf Dobelli, author of the bestseller – “The Art of Thinking Clearly” explaining about ‘Default Effect and Status Quo Bias’ and how we can make better financial decisions.