The Banker’s oath and financial advice

Weitzel, Utz; Kirchler, Michael

doi:10.1016/j.jbankfin.2022.106750

Cited by 7 publications

(3 citation statements)

References 35 publications

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“…Regardless of the investment size, investors always refer to the finance related information obtained or financial advice to make their investment decisions. However, the financial advice market is prone to misconduct for two main reasons (Weitzel & Kirchler, 2023). Firstly, financial advice is difficult for customers to evaluate the quality of the products or services offered.…”

Section: Ai and Information Searchingmentioning

confidence: 99%

“…This conflict can result in financial advisers receiving commissions, fees, or incentives that encourage dishonest behavior such as overcharging. As a result, many people do not trust human financial advisors because they are often influenced by conflicts of interest that can impact the quality of their advice and lead to financial exploitation (Weitzel & Kirchler, 2023).…”

Section: Ai and Information Searchingmentioning

confidence: 99%

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Exploring Factors Affecting Intention to Use Chatgpt for Searching Finance-Related Information

Yong Ming,

Jais,

Hui

et al. 2023

IJAREMS

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The emergence of ChatGPT has revolutionized information seeking behavior. This study aims to explore the potential factors that influence the adoption of ChatGPT as a tool for searching finance related information. This study also distributed the online questionnaire to gather the responses from existing users. The findings indicate that ease of use, usefulness, herding behavior, and social influence significantly affect users' intention to use ChatGPT for searching finance related information. However, this study also revealed that there is no significant relationship between individuals who used ChatGPT for searching finance related information and their intention for information checking. These results provide valuable insights for future studies and underscore the potential of ChatGPT as a tool for searching finance related information.

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Section: Ai and Information Searchingmentioning

confidence: 99%

Section: Ai and Information Searchingmentioning

confidence: 99%

Exploring Factors Affecting Intention to Use Chatgpt for Searching Finance-Related Information

Yong Ming,

Jais,

Hui

et al. 2023

IJAREMS

View full text Add to dashboard Cite

show abstract

“…Finally, experiments can also be used as a testbed for policy recommendations. For instance, experiments have tested institutional designs of, among others, financial transaction taxes (e.g., Hanke et al, 2010), market microstructure designs (e.g., Bloomfield and O'Hara, 1999), trading regulations (e.g., Palan and Stöckl, 2017), the banker's oath (Weitzel and Kirchler, 2023), and variants of communication alternatives of assets' riskiness (e.g., Kaufmann et al, 2013).…”

Section: Introductionmentioning

confidence: 99%

Experiments in finance

Kirchler

Weitzel

2023

Journal of Banking & Finance

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Commitment to honesty oaths decreases dishonesty, but commitment to another individual does not affect dishonesty

Zickfeld,

Ścigała,

Weiss

et al. 2023

Commun Psychol

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Social commitment influences our behavior in various ways. Recent studies suggest that social commitment to other individuals or groups can increase dishonest behavior while feeling commitment to moral norms might decrease it. Here we show in a pre-registered series of 7 studies investigating the influence of social commitment on dishonest behavior by sampling 7566 participants across three countries (the UK, the US, and Mexico) that commitment to moral norms via honesty oaths might decrease dishonesty (OR = 0.79 [0.72, 0.88]). To the contrary, we found no credible evidence that social commitment to other individuals increases dishonesty (OR = 1.08 [0.97, 1.20]). Finally, we observed that commitment to moral norms was less effective if participants were committed to another individual at the same time (OR = 0.95 [0.86, 1.06]). Our findings point at the potential effectiveness of honesty oaths, while the observed effect sizes were small compared to previous studies.

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The Banker’s oath and financial advice

Cited by 7 publications

References 35 publications

Exploring Factors Affecting Intention to Use Chatgpt for Searching Finance-Related Information

Exploring Factors Affecting Intention to Use Chatgpt for Searching Finance-Related Information

Experiments in finance

Commitment to honesty oaths decreases dishonesty, but commitment to another individual does not affect dishonesty

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