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Conservatism

Description

The tendency to revise one's belief insufficiently when presented with new evidence.

Conservatism in business decision

A company is slow to adapt to new market trends, under-reacting to clear data indicating a shift in consumer preferences because it conflicts with long-held beliefs about their customer base.

Conservatism in personal life decision

You are reluctant to update your belief that eggs are unhealthy, despite new research showing they are beneficial, because you've believed the old advice for years.