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In competitive markets, people who have systemic biases are likely to: increase over time. exit the...

In competitive markets, people who have systemic biases are likely to:
increase over time.
exit the market over time or adjust their behaviours.
have a comparative advantage over their rational counterparts.
never enter markets and participate in them.
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Answer #1

When markets are competitive, buyers use all the available information in forming expectations which is also reflected in the systemic bias they develop. This is a kind of bias where buyers inherently support or prefer a particular outcome. Since all the information is already used, they can only amend their preferences according to the market outcome or they can decide to exit.

Select 2nd option (amend or exit).

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