Do financial advisor commissions distort client choice?
This experiment shows that varying the commission received by financial advisors strongly influences insurance purchase.
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- Utpal Bhattacharya & Andreas Hackethal & Simon Kaesler & Benjamin Loos & Steffen Meyer, 2012. "Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study," Review of Financial Studies, Society for Financial Studies, vol. 25(4), pages 975-1032.
- Susan E. K. Christoffersen & Richard Evans & David K. Musto, 2013. "What Do Consumers’ Fund Flows Maximize? Evidence from Their Brokers’ Incentives," Journal of Finance, American Finance Association, vol. 68(1), pages 201-235, 02.
- John Chalmers & Jonathan Reuter, 2012. "Is Conflicted Investment Advice Better than No Advice?," NBER Working Papers 18158, National Bureau of Economic Research, Inc.
- Sendhil Mullainathan & Markus Noeth & Antoinette Schoar, 2012. "The Market for Financial Advice: An Audit Study," NBER Working Papers 17929, National Bureau of Economic Research, Inc.
- Daylian M. Cain & George Loewenstein & Don A. Moore, 2011. "When Sunlight Fails to Disinfect: Understanding the Perverse Effects of Disclosing Conflicts of Interest," Journal of Consumer Research, Oxford University Press, vol. 37(5), pages 836-857.
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