Status quo bias and social choice rules, evidence from a laboratory experiment

Abstract

Analyzing the effect of status quo bias, a common phenomenon in human behavior affecting decision-making, on three social choice rules: simple majority rule, approval voting, and Borda count, through a laboratory experiment. The primary conclusion drawn from the experiment is that simple majority rule is significantly influenced by status quo bias, while approval voting and Borda count are less susceptible to such bias. This implies that individuals tend to favor simple majority rule when it is the default option due to habit, inertia, or conformity. The study highlights the importance of considering the psychological factors that influence decision-making processes, particularly when choosing an appropriate social choice rule for collective decision-making. – AI-generated abstract.