Economists long assumed that people make financial decisions by carefully weighing costs and benefits. Behavioral economist Richard Thaler challenged this assumption by documenting ways in which people's choices depart from purely rational calculation. ______ he showed that people often treat money differently depending on where it came from, spending a tax refund more freely than an equal amount earned in wages.
Which choice completes the text with the most logical transition?
Nevertheless,
Instead,
Meanwhile,
Specifically,
Answer: D
The second sentence makes a general claim: Thaler documented ways people depart from rational calculation. The final sentence gives a particular case of that claim, the way people treat money differently depending on its source. "Specifically" introduces this more precise detail. "Instead" would wrongly suggest that the final sentence replaces what came before.
"Instead" may seem to fit because Thaler challenged an assumption, but the final sentence supports the previous sentence instead of replacing it.
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