The Price of Trust: How Conflicts of Interest Threaten the Marketplace of Ideas
A new study co-authored by Yale SOM’s John Barrios investigates how conflicts of interest erode trust in institutions that produce independent knowledge.
Conflicts of interest have long been a concern in research, and Barrios and his co-authors find that even in economics, where data and methods are transparent, credibility is impacted when readers perceive a potential conflict.
In today’s data-driven economy, the most significant conflicts no longer come from money, but from data ownership and control over what the public can see.
For example, if a study suggests that a ride-share service reduced traffic jams in cities, the credibility of the findings may be questioned if there is a potential conflict of interest.
Conflicts of interest have shadowed research since scholars first took money from patrons.
The study highlights the importance of transparency and independence in research to maintain trust in the marketplace of ideas.
Author’s summary: Conflicts of interest threaten trust in independent knowledge.
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