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Conflict of Interest, Disclosure and Vertical Relationships: An Experimental Analysis

Chen, Paul; Richardson, Martin

Description

Vertical integration in providing financial products and advice is not uncom-mon. We conduct an experiment in which a financial advisor recommendsto a client one of two potential assets to purchase and an asset purchase price.In one setting, the players’ incentives are aligned. In another, a conflict ofinterest exists with the advisor’s remuneration favouring one particular asset.We find that conflict influences the advisor’s asset recommendation awayfrom the asset that would better serve the...[Show more]

CollectionsANU Research Publications
Date published: 2019
Type: Journal article
URI: http://hdl.handle.net/1885/206264
Source: Economic Papers
DOI: 10.1111/1759-3441.12245

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