BETA Podcast: When conflict of interest disclosures backfire

BETA Podcast: When conflict of interest disclosures backfire

Domestic Policy Behavioural Economics
Friday, 04 October 2019

Department of the Prime Minister and Cabinet

We all seek advice on a regular basis – from doctors, financial advisers, mechanics and many other ‘advisers’.

But advisers who receive commissions, gifts, sponsorship, fees-for-service, and even non-financial incentives, may not give the best deal or advice.

Getting advisers to disclose conflicts of interest is the most common answer to this problem … because with more information, people surely can make the best decision, right?

Disclosure is supposed to act as a warning so clients can adjust their decision or behaviour accordingly.

But is that how disclosures actually work in the real world?

BETA is joined on its latest podcast by one of the world’s leading experts in this area—Professor Sunita Sah of Cornell University.

She talks to BETA’s then acting head of Behavioural Advice, Janine Bialecki, about what the evidence really says. Don’t miss this one.

You can hear the full story, and all BETA’s past episodes, on the website.

Disclaimer: BETA's podcasts discuss behavioural economics and insights with a range of academics, experts and practitioners. The views expressed are those of the individuals interviewed and do not necessarily reflect those of the Australian Government.