PrepTest 157, Section 4, Question 8
Passage A Markets, such as stock exchanges, distill(484 more words not shown)
Passage A(279 more words not shown)
Passage B(213 more words not shown)
Both passages are primarily concerned(8 more words not shown)
- AIs collective wisdom(5 more words not shown)
- BWhat can be(8 more words not shown)
- CCan markets be(5 more words not shown)
- DAre opinions more(11 more words not shown)
- EAre markets that(12 more words not shown)
Reading the passage
We've already identified the dispute: how much reliable information do markets give us? A emphasizes the efficient combination and spread of knowledge. B says the resulting prices mainly reflect current opinion, which can be wrong.
What we’re looking for
The answer should capture that disagreement, rather than one shared concession about financial incentives or a comparison the writers never make.
Working the answers
- A
A does discuss collective wisdom, but the shared inquiry is specifically about markets. Neither writer conducts a general comparison between collective judgments of every kind and individual judgment.
- B
Stock exchanges appear in A, but B focuses on election prediction markets. Studying stock-price movements is not the shared focus.
- CCorrect
A says market prices efficiently transmit what informed participants know. B doubts that they deliver anything more reliable than the opinions they reflect. Those positions answer the question of whether markets elicit reliable information.
- D
Putting money at stake matters to both accounts, and B concedes it produces more serious responses. But that mechanism is not the whole question. They diverge over what reliability the market ultimately provides, and seriousness alone isn't the same as truth.
- E
Neither writer compares election markets' efficiency with that of actual stock exchanges. A uses markets and an experiment to explain information processing; B challenges predictive reliability. E adds a relative ranking that isn't their debate.
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