In an experiment, advisers who had a financial incentive to give biased advice were 56pc more likely to do so if they knew their advisees would get a second opinion, say Sunita Sah of Cornell and Harvard and George Loewenstein of Carnegie Mellon University. Awareness of a future second opinion apparently made the primary advisers feel less generous toward their advisees and less constrained about acting in their own self-interest.
(Source: Organisational Behaviour and Human Decision Processes)
Published in Dawn, Business & Finance weekly, October 5th , 2015
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