"So where does the status-quo bias come from? **In addition to sheer convenience, loss aversion plays a role**. Recall that losses upset us twice as much as similar gains please us. For this reason, tasks such as renegotiating existing contracts prove very difficult. Regardless of whether these are private or professional, **each concession you make weighs twice as heavy as any you receive, so such exchanges end up feeling like net losses**." -- --- **Tags** — [[quotes]], [[omission-bias]], [[procrastination]], [[default-effect]], [[decision-fatigue]], [[paradox-of-choice]], [[loss-aversion]] **Source** — [[202308101525 — B — The Art of Thinking Clearly]]