Is Status Quo Bias Consistent with Downward-Sloping Demand?

@article{Wittman2008IsSQ,
  title={Is Status Quo Bias Consistent with Downward-Sloping Demand?},
  author={Donald A. Wittman},
  journal={Microeconomic Theory eJournal},
  year={2008}
}
  • D. Wittman
  • Published 1 April 2008
  • Economics
  • Microeconomic Theory eJournal
We show that status-quo bias combined with downward-sloping demand implies addictive behavior. This result does not depend on transitivity, a complete ordering, or even the existence of a preference relation that rationalizes choices. 
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