Bribing the Self

B-Tier
Journal: Games and Economic Behavior
Year: 2020
Volume: 120
Issue: C
Pages: 311-324

Score contribution per author:

0.503 = (α=2.01 / 4 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Expert advice is often biased in ways that benefit the advisor. We demonstrate how self-deception helps advisors be biased while preserving their self-image as ethical and identify limits to advisors' ability to self-deceive. In experiments where advisors recommend one of two investments to a client and receive a commission that depends on their recommendation, we vary the timing at which advisors learn about their own incentives. When advisors learn about their incentives before evaluating the available investments, they are more likely to be biased than when they learn about their incentives only after privately evaluating the investments. Consistent with self-deception, learning about the incentive before evaluating the options affects advisors' beliefs and preferences over the investments. Biased advice persists with minimal justifications but is eliminated when all justifications are removed. These findings show how self-deception can be constrained to improve advice provision.

Technical Details

RePEc Handle
repec:eee:gamebe:v:120:y:2020:i:c:p:311-324
Journal Field
Theory
Author Count
4
Added to Database
2026-01-25