Default Bias (Behavioural Economics)
- Levels: A Level
- Exam boards: AQA, Edexcel, OCR, Eduqas
The default choice or default option is the option that a consumer “selects” if he or she does nothing. Studies have shown that consumers rarely change the default settings. So, the nature of the default option strongly affects consumer behaviour
People prefer to carry on behaving as they have always done even when the circumstances that might influence their decisions change. Repeat choices / purchases often become automatic because default choices don’t involve much mental (cognitive) effort.
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Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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