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Hi Rickooreo,
Your reasoning would be airtight if the case study told us why taxpayers chose Swedish stocks. The catch is what counts as a valid selection here.
Look again at the exact wording in the Case Study tab: "Reports available to taxpayers showed that Swedish stock prices had been rising rapidly, and as a result a large proportion of taxpayers invested heavily in Swedish stocks."
That phrase "as a result" hands you the cause outright - the recent, prominent rising-price reports. That's the availability bias described in the first tab. The case study never says taxpayers picked Swedish stocks because they were Swedish / familiar.
Where your logic slips: the question asks you to select "Contributed significantly" only when the information clearly indicates it. Home bias would fit the pattern (they did concentrate in home-nation stocks) - but fitting a definition is not the same as being clearly indicated as a cause. The concentration is already fully explained by the rising-price reports. So whether familiarity added anything on top is indeterminate - not established.
A good tell: Question 3 asks what extra fact would be needed to show familiarity bias was at work. If home bias were already clearly demonstrated, that question wouldn't need to exist.
A tiny stand-in to feel the difference:
Fact: "A café put a huge 'FRESH DONUTS' sign in the window, and as a result most customers bought donuts."
Did customers buy donuts because they love donuts (a standing preference)? Maybe - but the sentence only tells you the sign drove the purchase. The preference is possible but not indicated.
Same move here: the reports (the sign) are the stated cause; home-nation familiarity (the standing preference) is unconfirmed. That's why Home Bias is Did not contribute significantly / indeterminate.
Answer: Contributed Significantly, Did not contribute significantly/indeterminate, Did not contribute significantly/indeterminate
Your reasoning would be airtight if the case study told us why taxpayers chose Swedish stocks. The catch is what counts as a valid selection here.
Look again at the exact wording in the Case Study tab: "Reports available to taxpayers showed that Swedish stock prices had been rising rapidly, and as a result a large proportion of taxpayers invested heavily in Swedish stocks."
That phrase "as a result" hands you the cause outright - the recent, prominent rising-price reports. That's the availability bias described in the first tab. The case study never says taxpayers picked Swedish stocks because they were Swedish / familiar.
Where your logic slips: the question asks you to select "Contributed significantly" only when the information clearly indicates it. Home bias would fit the pattern (they did concentrate in home-nation stocks) - but fitting a definition is not the same as being clearly indicated as a cause. The concentration is already fully explained by the rising-price reports. So whether familiarity added anything on top is indeterminate - not established.
A good tell: Question 3 asks what extra fact would be needed to show familiarity bias was at work. If home bias were already clearly demonstrated, that question wouldn't need to exist.
A tiny stand-in to feel the difference:
Fact: "A café put a huge 'FRESH DONUTS' sign in the window, and as a result most customers bought donuts."
Did customers buy donuts because they love donuts (a standing preference)? Maybe - but the sentence only tells you the sign drove the purchase. The preference is possible but not indicated.
Same move here: the reports (the sign) are the stated cause; home-nation familiarity (the standing preference) is unconfirmed. That's why Home Bias is Did not contribute significantly / indeterminate.
Answer: Contributed Significantly, Did not contribute significantly/indeterminate, Did not contribute significantly/indeterminate
Rickooreo
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