Conflicts of Interest: Challenges and Solutions in Business, Law, Medicine, and Public Policy

by Edited by Don A. Moore , Daylian M. Cain , George Loewenstein , Max H. Bazerman

• ISBN13: 9780521844390
• ISBN10: 0521844398
• Format: Hardcover
• Copyright: 2005-04-18
• Publisher: Cambridge University Press

Summary

This collection explores the subject of conflicts of interest. It investigates how to manage conflicts of interest, how they can affect well-meaning professionals, and how they can limit the effectiveness of corporate boards, undermine professional ethics, and corrupt expert opinion. Legal and policy responses are considered, some of which (e.g., disclosure) are shown to backfire and even fail. The results offer a sobering prognosis for professional ethics and for anyone who relies on professionals who have conflicts of interest. The contributors are leading authorities on the subject in the fields of law, medicine, management, public policy, and psychology. The nuances of the problems posed by conflicts of interest will be highlighted for readers in an effort to demonstrate the many ways that structuring incentives can affect decision making and organizations' financial well-being.

Table of Contents

List of Contributors	ix
Acknowledgments	xi
Introduction	1	(12)
Don A. Moore, George Loewenstein, Daylian M. Cain, and Max H. Bazerman
PART ONE BUSINESS
1 Managing Conflicts of Interest within Organizations: Does Activating Social Values Change the Impact of Self-Interest on Behavior?	13	(23)
Tom R. Tyler
2 Commentary: On Tyler's "Managing Conflicts of Interest within Organizations"	36	(5)
Robyn Dawes
3 A Review of Experimental and Archival Conflicts-of-Interest Research in Auditing	41	(29)
Mark W. Nelson
4 Commentary: Conflicts of Interest in Accounting	70	(4)
Don A. Moore
5 Bounded Ethicality as a Psychological Barrier to Recognizing Conflicts of Interest	74	(22)
Dolly Chugh, Max H. Bazerman, and Mahzarin R. Banaji
6 Commentary: Bounded Ethicality and Conflicts of Interest	96	(8)
Ann E. Tenbrunsel
7 Coming Clean but Playing Dirtier: The Shortcomings of Disclosure as a Solution to Conflicts of Interest	104	(22)
Daylian M. Cain, George Loewenstein, and Don A. Moore
8 Commentary: Psychologically Naive Assumptions about the Perils of Conflicts of Interest	126	(7)
Dale T. Miller
PART TWO MEDICINE
9 Physicians' Financial Ties with the Pharmaceutical Industry: A Critical Element of a Formidable Marketing Network	133	(9)
Jerome P. Kassirer
10 Commentary: How Did We Get into this Mess?	142	(10)
Peter A. Ubel
11 Why Are (Some) Conflicts of Interest in Medicine So Uniquely Vexing?	152	(29)
Andrew Stark
12 Commentary: Financial Conflicts of Interest and the Identity of Academic Medicine	181	(8)
Scott Y.H. Kim
PART THREE LAW
13 Legal Responses to Conflicts of Interest	189	(13)
Samuel Issacharoff
14 Commentary: Conflicts of Interest Begin Where Principal-Agent Problems End	202	(4)
George Loewenstein
15 Conflicts of Interest and Strategic Ignorance of Harm	206	(18)
Jason Dana
16 Commentary: Strategic Ignorance of Harm	224	(9)
Daylian M. Cain
PART FOUR PUBLIC POLICY
17 Conflicts of Interest in Public Policy Research	233	(30)
Robert J. MacCoun
18 Commentary: Conflicts of Interest in Policy Analysis: Compliant Pawns in Their Game?	263	(7)
Baruch Fischhoff
19 Conflict of Interest as an Objection to Consequentialist Moral Reasoning	270	(14)
Robert H. Frank
20 Commentary: Conflict of Interest as a Threat to Consequentialist Reasoning	284	(5)
David M. Messick
Index	289