Professionals face conflicts-of-interest when they have a personal interest in giving biased advice. Mandatory disclosure — informing consumers of the conflict — is a widely adopted strategy in numerous professions, such as medicine, finance, and accounting. Prior research has, however,...

Conflicts of interest create an incentive for advisors to give biased advice, and disclosure is a popular remedy. Across a series of studies, with monetary stakes creating conflicts of interest, I show that disclosure of the conflict of interest can increase as well as decrease bias in advice....