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Economics

Student Videos

Default Bias (Behavioural Economics)

Level:
A Level
Board:
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.

Behavioural Economics - Default Bias

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