The Banker’s oath and financial advice
通过大规模审计实验，研究提醒银行家誓言是否影响金融顾问在利益冲突中的服务行为，发现直接提及誓言能减少顾问优先考虑银行利益，但监管者预期效果高于实际。
Financial misbehavior is widespread and costly. The Dutch government legally requires every employee in the financial sector to take a Hippocratic oath, the so-called “banker’s oath.” We investigate whether nudges that (in)directly remind financial advisers of their oath affect their service. In a large-scale audit study, professional auditors confronted 201 Dutch financial advisers with a conflict of interest. We find that when auditors apply a nudge that directly refers to the banker’s oath, advisers are less likely to prioritize bank’s interests. In additional prediction tasks, we find that Dutch regulators expect stronger effects of the oath than observed.