Conflicts of Interest

What are incentives?

• Rewards for certain actions

• Punishments for certain actions

• Motivators for unethical behavior

• Irrelevant factors in decision-making

What can conflicts of interest lead to?

• Positive outcomes

• Improved decision-making

• Unethical behavior

• Increased transparency

Which profession is given as an example of a conflict of interest?

• Salesperson

• Small business owner

• Doctor

• Professor

What is the conflict of interest faced by doctors?

• Choosing between patients and financial gain

• Choosing between different medical procedures

• Choosing between different chemotherapy agents

• Choosing between different medical schools

What is the conflict of interest faced by a magazine editor?

• Choosing between improving a writer and maintaining a relationship

• Choosing between different entertainment stories

• Choosing between different sections of the magazine

• Choosing between personal and professional interests

What is the conflict of interest in real estate transactions?

• Choosing between buyers and sellers

• Choosing between different properties

• Choosing between different real estate agents

• Choosing between different negotiation strategies

What is the conflict of interest faced by professors?

• Choosing between high grades and low workload

• Choosing between different teaching methods

• Choosing between different research projects

• Choosing between different universities

What is one implication for managers and policy-makers?

• Ignoring conflicts of interest

• Promoting unethical behavior

• Evaluating professionals' incentives

• Eliminating professional codes of conduct

What is one way to reduce unethical behavior?

• Increasing conflicts of interest

• Ignoring professional responsibilities

• Acknowledging conflicts of interest

• Promoting professional codes of conduct

What is the importance of making good choices?

• It leads to success in the business world

• It has no impact on the outcome

• It is irrelevant in professional settings

• It is only important in personal life