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Peter has recently acquired shares of Dig Earth Inc., a mining company since he believes it has bright prospects. He is excited because a preliminary report which has suggested that the company is about to announce a new find in Amazon forests. However, the environmentalists are lobbying strongly to oppose any further mining activity in the forest area. In the last two years, four mining companies were forced out of these forests by the environmentalists’ lobby.
Peter is however confident that Dig Earth will find a way to subvert the environmentalists & purchases more shares of Dig Earth.
Which bias is Peter exhibiting?