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Understanding the Advice of Commissions-Motivated Agents: Evidence from the Indian Life Insurance Market

Citations

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Cited by:

  1. Dewi, Ratna & Mahmud, Amir & Jamali, Hisnol, 2018. "The Impact of Internal Factor Analysis Summary (IFAS) and Competing Power on Performance in the Life Insurance Industry: The Mediating Role of Competitive Advantage," OSF Preprints aeqzy, Center for Open Science.
  2. Erika Deserranno & Firman Witoelar & Gianmarco León-Ciliotta, 2021. "When Transparency Fails: Financial Incentives for Local Banking Agents in Indonesia," Working Papers 1233, Barcelona School of Economics.
  3. Maxime Perodaud & Michela Chessa, 2026. "Hey, what did you expect ? Confirmation bias in credence goods markets: Theoretical and experimental analyses," Post-Print hal-05441370, HAL.
  4. Meub, Lukas & Reher, Leonie & Erlei, Alexander & Beuchel, Sebastian, 2025. "Handwerk als Vertrauensgut - ein theoretischer Rahmen zur experimentellen Forschung," ifh Forschungsberichte 31, Volkswirtschaftliches Institut für Mittelstand und Handwerk an der Universität Göttingen (ifh).
  5. Sorravich Kingsuwankul & Chloe Tergiman & Marie Claire Villeval, 2023. "Why do oaths work? Image concerns and credibility in promise keeping," Working Papers hal-04209489, HAL.
  6. Utz Weitzel & Michael Kirchler, 2021. "The Banker's Oath And Financial Advice," Tinbergen Institute Discussion Papers 21-032/IV, Tinbergen Institute.
  7. Jonathan Hall & Rudolf Kerschbamer & Daniel Neururer & Eric Skoog, 2025. "Uncovering Sophisticated Discrimination with the Help of Credence Goods Markups: Evidence from a Natural Field Experiment," Management Science, INFORMS, vol. 71(1), pages 694-707, January.
  8. Vollaard, Ben & van Ours, Jan C., 2022. "Bias in expert product reviews," Journal of Economic Behavior & Organization, Elsevier, vol. 202(C), pages 105-118.
  9. Gurun, Umit G. & Stoffman, Noah & Yonker, Scott E., 2021. "Unlocking clients: The importance of relationships in the financial advisory industry," Journal of Financial Economics, Elsevier, vol. 141(3), pages 1218-1243.
  10. Sanghoon Kim, 2024. "Informed agent’s advice in bargaining under two-sided incomplete information," Journal of Economics, Springer, vol. 143(2), pages 183-205, October.
  11. Cristian Escudero & José L. Ruiz, 2022. "Choosing the highest annuity payout: the role of intermediation and firm reputation," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 47(4), pages 973-1004, October.
  12. John (Jianqiu) Bai & Chenguang Shang & Chi Wan & Yijia Eddie Zhao, 2022. "Social Capital and Individual Ethics: Evidence from Financial Adviser Misconduct," Journal of Business Ethics, Springer, vol. 181(2), pages 495-518, November.
  13. Miguel Angel Latorre Guillem, 2020. "The Customer Orientation Service of Spanish Brokers in the Insurance Industry: The Advisory Service of the Insurance Distribution Channel Bancassurance," Sustainability, MDPI, vol. 12(7), pages 1-22, April.
  14. Vivek Bhattacharya & Gastón Illanes & Manisha Padi, 2019. "Fiduciary Duty and the Market for Financial Advice," NBER Working Papers 25861, National Bureau of Economic Research, Inc.
  15. Manzoor H. Dar & Alain de Janvry & Kyle Emerick & Elisabeth Sadoulet & Eleanor Wiseman, 2024. "Private Input Suppliers as Information Agents for Technology Adoption in Agriculture," American Economic Journal: Applied Economics, American Economic Association, vol. 16(2), pages 219-248, April.
  16. Balafoutas, Loukas & Kerschbamer, Rudolf, 2020. "Credence goods in the literature: What the past fifteen years have taught us about fraud, incentives, and the role of institutions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).
  17. Baker, Scott R. & Johnson, Stephanie & Kueng, Lorenz, 2024. "Financial returns to household inventory management," Journal of Financial Economics, Elsevier, vol. 151(C).
  18. Marcos Agurto & Habiba Djebbari & Sudipta Sarangi Author-Name: Brenda Silupú Author-Name: Carolina Trivelli Author-Name: Javier Torres, 2020. "Local ambassadors promote mobile banking in Northern Peru," Working Papers PIERI 2020-04, PEP-PIERI.
  19. Li, Jing & Zhang, Xiao, 2022. "Do people provide good advice?," Journal of Economic Behavior & Organization, Elsevier, vol. 199(C), pages 44-64.
  20. Mark Egan & Shan Ge & Johnny Tang, 2022. "Conflicting Interests and the Effect of Fiduciary Duty: Evidence from Variable Annuities," The Review of Financial Studies, Society for Financial Studies, vol. 35(12), pages 5334-5386.
  21. Chloe Tergiman & Marie Claire Villeval, 2019. "The Way People Lie in Markets," Working Papers 1927, Groupe d'Analyse et de Théorie Economique Lyon St-Etienne (GATE Lyon St-Etienne), Université de Lyon.
  22. Ogawa, Hiromasa, 2024. "Expert’s reputation concern and consumer information," Mathematical Social Sciences, Elsevier, vol. 131(C), pages 80-92.
  23. Wang, Chenhao & Shi, Yushui & Liu, Yu-Jane, 2023. "Financial advisor's covert discrimination against long-term clients," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
  24. repec:bcp:journl:v:7:y:2023:i:7:p:582-593 is not listed on IDEAS
  25. Abate, Gashaw T. & Abay, Kibrom A. & Chamberlin, Jordan & Kassim, Yumna & Spielman, David J. & Paul Jr Tabe-Ojong, Martin, 2023. "Digital tools and agricultural market transformation in Africa: Why are they not at scale yet, and what will it take to get there?," Food Policy, Elsevier, vol. 116(C).
  26. Denis Charles & Claire Mouminoux, 2026. "Limited risk classification and mortgage insurance decisions: a lab experiment," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 51(2), pages 428-467, April.
  27. Oh, Yoonhae, 2019. "Sales Compensation and Recommendations as the Fund of the Month," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 41(2), pages 59-79.
  28. Baridhi Malakar, 2024. "Fiduciary Duty in the Municipal Bonds Market," Municipal Finance Journal, University of Chicago Press, vol. 45(2), pages 121-155.
  29. Briana Chang & Martin Szydlowski, 2020. "The Market for Conflicted Advice," Journal of Finance, American Finance Association, vol. 75(2), pages 867-903, April.
  30. Lex, Christoph & Tennyson, Sharon, 2021. "EU intermediary regulation and its impact on insurance agent quality: Evidence from Germany," International Review of Law and Economics, Elsevier, vol. 68(C).
  31. Carolina Guerini & Donato Masciandaro, 2023. "Financial Education between Market and State: Private Commitment, Conflicts of Interest and Public Certification," BAFFI CAREFIN Working Papers 23213, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
  32. Seth Garz & Xavier Gine & Dean Karlan & Rafe Mazer & Caitlin Sanford & Jonathan Zinman, 2021. "Consumer Protection for Financial Inclusion in Low- and Middle-Income Countries: Bridging Regulator and Academic Perspectives," Annual Review of Financial Economics, Annual Reviews, vol. 13(1), pages 219-246, November.
  33. de Bruin, Boudewijn & Cherednychenko, Olha & Hermes, Niels & Kramer, Marc & Meyer, Marco, 2024. "Demand for financial advice: Evidence from a randomized choice experiment," Journal of Banking & Finance, Elsevier, vol. 163(C).
  34. Dewi, Ratna & Mahmud, Amir & Jamali, Hisnol, 2018. "The Impact of Internal Factor Analysis Summary (IFAS) and Competing Power on Performance in the Life Insurance Industry: The Mediating Role of Competitive Advantage," OSF Preprints 6ngxe, Center for Open Science.
  35. Prasanna Tantri, 2025. "How Does a Health Insurance Program Covering 500 Million Poor Impact Credit Market Outcomes?," Management Science, INFORMS, vol. 71(6), pages 4533-4551, June.
  36. Halan, Monika & Sane, Renuka, 2017. "Regulating consumer finance: Do disclosures matter? The case of life insurance," Working Papers 17/212, National Institute of Public Finance and Policy.
  37. Li, Keyang & Wu, Jing & Xing, Jianwei & Yan, Jubo, 2023. "Steering in the housing market: Incentive induced by the tax scheme," Regional Science and Urban Economics, Elsevier, vol. 103(C).
  38. Gerlach, Heiko & Li, Junqian, 2022. "Experts, trust and competition," Journal of Economic Behavior & Organization, Elsevier, vol. 198(C), pages 552-578.
  39. Winand Emons & Severin Lenhard, 2025. "The Economics of Advice," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 67(2), pages 111-131, August.
  40. Gneezy, Uri & Saccardo, Silvia & Serra-Garcia, Marta & van Veldhuizen, Roel, 2020. "Bribing the Self," Games and Economic Behavior, Elsevier, vol. 120(C), pages 311-324.
  41. Felix Gottschalk, 2021. "Regulating Markets with Advice: An Experimental Study," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(1), pages 1-31, February.
  42. Bergemann, Dirk & Ottaviani, Marco, 2021. "Information Markets and Nonmarkets," CEPR Discussion Papers 16459, C.E.P.R. Discussion Papers.
  43. Chauhan, Yogesh & Dey, Dipanjan Kumar, 2020. "Does financial literacy affect the value of financial advice? A contingent valuation approach," Journal of Behavioral and Experimental Finance, Elsevier, vol. 25(C).
  44. Yuan Gu & Chao Hung Chan, 2024. "Complexity Aversion," Papers 2406.18463, arXiv.org.
  45. Sandro Casal & Matteo Ploner & Alec N. Sproten, 2019. "Fostering The Best Execution Regime: An Experiment About Pecuniary Sanctions And Accountability In Fiduciary Money Management," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 600-616, January.
  46. Jason Allen & Robert Clark & Jean-François Houde & Shaoteng Li & Anna Trubnikova, 2025. "The Role of Intermediaries in Selection Markets: Evidence from Mortgage Lending," The Review of Financial Studies, Society for Financial Studies, vol. 38(11), pages 3284-3328.
  47. Reza Roshangarzadeh & TI Tongil Kim & Shervin Shahrokhi Tehrani, 2025. "Expert’s Recommendations in Product Choices: Information Provision, Conflicts of Interest, and Consumer Protection among U.S. Kidney Disease Patients," Marketing Science, INFORMS, vol. 44(5), pages 1017-1037, September.
  48. Schuler, Sebastian, 2020. "Capping Commissions in the Presence of Price Competition," MPRA Paper 104867, University Library of Munich, Germany.
  49. Carolina Guerini & Donato Masciandaro & Alessia Papini, 2025. "Literacy and Financial Education: Private Providers, Public Certification and Political Preferences," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 11(2), pages 463-514, July.
  50. Hackethal, Andreas & Laudenbach, Christine & Meyer, Steffen & Weber, Annika, 2018. "Client involvement in expert advice: Antibiotics in finance?," SAFE Working Paper Series 219, Leibniz Institute for Financial Research SAFE.
  51. Herweg, Fabian & Rosato, Antonio, 2018. "Bait and Ditch: Consumer Naiveté and Salesforce Incentives," CEPR Discussion Papers 12612, C.E.P.R. Discussion Papers.
  52. Fabian Herweg & Antonio Rosato, 2020. "Bait and ditch: Consumer naïveté and salesforce incentives," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 29(1), pages 97-121, January.
  53. Weitzel, Utz & Kirchler, Michael, 2023. "The Banker’s oath and financial advice," Journal of Banking & Finance, Elsevier, vol. 148(C).
  54. Khalmetski, Kiryl, 2019. "Evasion of guilt in expert advice," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 296-310.
  55. Benjamin L. Collier & Marc A. Ragin, 2020. "The Influence of Sellers on Contract Choice: Evidence from Flood Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(2), pages 523-557, June.
  56. Balakina, Olga & Balasubramaniam, Vimal & Dimri, Aditi & Sane, Renuka, 2026. "Unshrouding product-specific attributes through financial education," Journal of Development Economics, Elsevier, vol. 178(C).
  57. Baridhi Malakar, 2024. "Essays on Responsible and Sustainable Finance," Papers 2406.12995, arXiv.org.
  58. Panle Jia Barwick & Parag A. Pathak & Maisy Wong, 2017. "Conflicts of Interest and Steering in Residential Brokerage," American Economic Journal: Applied Economics, American Economic Association, vol. 9(3), pages 191-222, July.
  59. Angelova, Vera & Regner, Tobias, 2018. "Can a bonus overcome moral hazard? Experimental evidence from markets for expert services," Journal of Economic Behavior & Organization, Elsevier, vol. 154(C), pages 362-378.
  60. Lynn, Peter & Fumagalli, Laura & Muñoz-Bugarin, Jair, 2021. "Investigating the role of debt advice on borrowers’ well-being. An encouragement study on a new sample of over-indebted people in Britain," ISER Working Paper Series 2021-08, Institute for Social and Economic Research.
  61. Katharina Momsen & Markus Ohndorf, 2022. "Seller Opportunism in Credence Good Markets – The Role of Market Conditions," Working Papers 2022-10, Faculty of Economics and Statistics, Universität Innsbruck.
  62. Chloe Tergiman & Marie Claire Villeval, 2023. "The Way People Lie in Markets: Detectable vs. Deniable Lies," Management Science, INFORMS, vol. 69(6), pages 3340-3357, June.
  63. Guiso, Luigi & Pozzi, Andrea & Tsoy, Anton & Gambacorta, Leonardo & Mistrulli, Paolo Emilio, 2022. "The cost of steering in financial markets: Evidence from the mortgage market," Journal of Financial Economics, Elsevier, vol. 143(3), pages 1209-1226.
  64. Giné, Xavier & Mazer, Rafael Keenan, 2022. "Financial (dis-)information: Evidence from a multi-country audit study," Journal of Public Economics, Elsevier, vol. 208(C).
  65. Juhani T. Linnainmaa & Brian T. Melzer & Alessandro Previtero, 2021. "The Misguided Beliefs of Financial Advisors," Journal of Finance, American Finance Association, vol. 76(2), pages 587-621, April.
  66. Hlobil, T.M. & van Leuvensteijn, M., 2020. "Combining investment advice and asset management," Economics Letters, Elsevier, vol. 197(C).
  67. Mouminoux, Claire & Rullière, Jean-Louis & Loisel, Stéphane, 2025. "Search costs, choice overload, and intermediary deviation: Barriers to optimal insurance choices in multi-distribution channel setting," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 119(C).
  68. Doron Samuell & Demetris Christodoulou, 2024. "Lower disclosures from customers screened by financial advisors," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 91(1), pages 93-120, March.
  69. Daniel Hoechle & Stefan Ruenzi & Nic Schaub & Markus Schmid, 2018. "Financial Advice and Bank Profits," The Review of Financial Studies, Society for Financial Studies, vol. 31(11), pages 4447-4492.
  70. Carolina Guerini & Donato Masciandaro & Alessia Papini, 2024. "Literacy and Financial Education: Private Providers, Public Certification and Political Preferences," BAFFI CAREFIN Working Papers 24223, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
  71. Eriksen, Kristoffer W. & Fest, Sebastian & Kvaløy, Ola & Dijk, Oege, 2022. "Fair advice," Journal of Banking & Finance, Elsevier, vol. 143(C).
  72. Emily Breza & Martin Kanz & Leora F. Klapper, 2020. "Learning to Navigate a New Financial Technology: Evidence from Payroll Accounts," NBER Working Papers 28249, National Bureau of Economic Research, Inc.
  73. Sane, Renuka, 2019. "The way forward for personal insolvency in the Indian Insolvency and Bankruptcy Code," Working Papers 19/251, National Institute of Public Finance and Policy.
  74. Bernardita Vial & Pilar Alcalde, 2020. "Intermediary Commissions in a Regulated Market with Heterogeneous Customers," Documentos de Trabajo 532, Instituto de Economia. Pontificia Universidad Católica de Chile..
  75. Horenstein, Alex R. & Snir, Avichai, 2017. "Portfolio choice in Mexico," Journal of Behavioral and Experimental Finance, Elsevier, vol. 16(C), pages 1-13.
  76. Piera Bello, 2020. "Gender-based price discrimination in the annuity market: Evidence from Chile," IdEP Economic Papers 2002, USI Università della Svizzera italiana.
  77. Huong Trang Kim, 2023. "Linking Trait Affectivity, Cognitive Ability, and Preferences Among Top Managers: Insights From a Lab-In-The-Field Experiment," Evaluation Review, , vol. 47(3), pages 479-503, June.
  78. Utz Weitzel & Michael Kirchler, 2022. "The Banker's Oath And Financial Advice," Working Papers 2022-13, Faculty of Economics and Statistics, Universität Innsbruck.
  79. Leonardo Gambacorta & Luigi Guiso & Paolo Mistrulli & Andrea Pozzi & Anton Tsoy, 2017. "The Cost of Distorted Financial Advice - Evidence from the Mortgage Market," EIEF Working Papers Series 1713, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2017.
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