Schweser exam book 2 Q3 difficulty, management, technology, currently, available

dece2011

Guys and Girls,
I need help on this Q
Statement 1 : Pension plan participant currently have 90% of their investments in traditional asset classes. Our portfolio management firm has had difficulty getting investors to consider the non-traditional investments that are available through newly introduced exchanged funds”
Statement 2 : The recent bubble in technology stock prices resulted in stock valuations not justifiable by even the most optimistic fundamental analysis. However, it was difficult to exploit the stocks’ mispricing because individuals investors kept bidding up price based on their perceptions of the trading of other investors”
The question ask to identify the behavioral concept behind these statements.
I answer the first with ” Aversion to ambiguity” and the second with ” Ebullience cycle, as in correlating oneself with the market”
The book suggest answers with ” status quo bias” and “representativeness”
Am I totally on the wrong track or the answer can go both ways??
Thanks guys