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| title | chunk | source | category | tags | date_saved | instance |
|---|---|---|---|---|---|---|
| Conflict of interest | 10/10 | https://en.wikipedia.org/wiki/Conflict_of_interest | reference | science, encyclopedia | 2026-05-05T07:02:20.421650+00:00 | kb-cron |
=== Disclosure === Commonly, politicians and high-ranking government officials are required to disclose financial information—assets such as stock, debts such as loans, and/or corporate positions held, typically annually. To protect privacy (to some extent), financial figures are often disclosed in ranges such as "$100,000 to $500,000" and "over $2,000,000". Certain professionals are required either by rules related to their professional organization, or by statute, to disclose any actual or potential conflicts of interest. In some instances, the failure to provide full disclosure is a crime. However, there is limited evidence regarding the effect of conflict of interest disclosure despite its widespread acceptance. A 2012 study published in the Journal of the American Medical Association showed that routine disclosure of conflicts of interest by American medical school educators to pre-clinical medical students were associated with an increased desire among students for limitations in some industry relationships. However, there were no changes in the perceptions of students about the value of disclosure, the influence of industry relationships on educational content, or the instruction by faculty with relevant conflicts of interest. One line of research suggests that disclosure can have "perverse effects" or, at least, is not the panacea regulators often take it to be.
=== Recusal ===
Those with a conflict of interest are expected to recuse themselves from (i.e., abstain from) decisions where such a conflict exists. The imperative for recusal varies depending upon the circumstance and profession, either as common sense ethics, codified ethics, or by statute. For example, if the governing board of a government agency is considering hiring a consulting firm for some task, and one firm being considered has, as a partner, a close relative of one of the board's members, then that board member should not vote on which firm is to be selected. In fact, to minimize any conflict, the board member should not participate in any way in the decision, including discussions. Judges are supposed to recuse themselves from cases when personal conflicts of interest may arise. For example, if a judge has participated in a case previously in some other judicial role he/she is not allowed to try that case. Recusal is also expected when one of the lawyers in a case might be a close personal friend, or when the outcome of the case might affect the judge directly, such as whether a car maker is obliged to recall a model that a judge drives. This is required by law under Continental civil law systems and by the Rome Statute, organic law of the International Criminal Court.
== See also ==
== References ==
== Further reading == Acocella, N. and Di Bartolomeo, G. and Piacquadio, P.G. [2009], Conflict of interest, (implicit) coalitions and Nash policy games, in: Economics Letters, 105: 303–305. Black, William K. (2005). The Best Way to Rob a Bank Is to Own One. Austin, TX: University of Texas Press. ISBN 978-0-292-72139-5. Davis, Michael; Andrew Stark (2001). Conflict of interest in the professions. Oxford: Oxford University Press. ISBN 978-0-19-512863-5. Lessig, Lawrence (2011). Republic, Lost: How Money Corrupts Congress -- and a Plan to Stop It. Twelve. ISBN 978-0-446-57643-7. Lo, Bernard; Marilyn J. Field (2009). Conflict of Interest in Medical Research, Education, and Practice. Washington, D.C.: National Academies Press. ISBN 978-0-309-13188-9. Porter, Roger J.; Thomas E. Malone (1992). Biomedical research: collaboration and conflict of interest. Baltimore: Johns Hopkins University Press. ISBN 978-0-8018-4400-3. Thompson, Dennis (1995). Ethics in Congress: From Individual to Institutional Corruption. Washington, D.C.: Brookings Institution Press. ISBN 978-0-8157-8423-4. Thompson, Dennis (1993). "Understanding financial conflicts of interest". New England Journal of Medicine. 329 (8): 573–76. CiteSeerX 10.1.1.466.1945. doi:10.1056/NEJM199308193290812. PMID 8336759.
== External links ==
Thacker, Paul D. (November 2006). "Environmental journals feel pressure to adopt disclosure rules". Environmental Science & Technology. 40 (22): 6873–6875. Bibcode:2006EnST...40.6873T. doi:10.1021/es062808a. PMID 17153989. McDonald, Michael. "Ethics and Conflict of Interest". W. Maurice Young Centre for Applied Ethics. Archived from the original on 2007-11-03.