Status Quo Maintenance Reconsidered
Changing or Incomplete Preferences
Bibliographic Data
| ID | 9718192 |
|---|---|
| Authors | Michael Mandler (0000-0002-4467-7916, Royal Holloway College, University of London, corresponding author) |
| Year | 2004 |
| Volume | 114 |
| Issue | 499 |
| Pages | F518-F535 |
| Publication date | 2004-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2004.00257.x |
| OpenAlex | W2030965966 |
| Language | EN |
| Citations received | 5 |
| References cited | 33 |
After reviewing the evidence for status quo maintenance (SQM), I consider how to reconcile SQM with traditional consumer theory. Behavioural economists usually let agents’ preferences change as a function of their endowments, treating the same person with different endowments as a set of distinct agents. Many properties of preferences then become immune to empirical test and it becomes impossible to judge whether an agent’s decisions make the agent better or worse off. This impedes prediction of when decision rules are likely to change. SQM can alternatively be explained with unchanging preferences if preferences are incomplete. SQM is then consistent with self-interest and there is no reason why it should not persist
Economics · Function (biology · Market economy · Microeconomics · Positive economics · Public economics · Set (abstract data type · Status quo · Computer Science · Decision-Making and Behavioral Economics · Economic Policies and Impacts · Experimental Behavioral Economics Studies
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Contingent Valuation
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,38 |
| Citation span | 2013 - 2021 (9) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 5 |