Beware of Conflicts of Interest

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 “The most difficult thing,…, is to recognise that sometimes we too are blinded by our own incentives.”

– Dan Ariely

What came to your mind when you saw “…conflicts of interest”? What do you do when faced with situations in which there is a conflict of interest? How do you handle them?

In this 5-minute TEDTalk video, a Behavioural Economist, Dan Ariely explained how the pursuit of knowledge and insight can be affected by short-sighted personal goals, consciously or unconsciously, and also reminds us that we are humans who always want the best.

In this talk, he also points out that the real challenge, in dealing with case of conflict of interest, is to figure out the areas of our lives where conflicts of interest work on us and try not to overcome them via intuition but to try to do things that prevent us from falling prey.

We sometimes do things with the hope of helping out, doing them better, achieving a greater goal, whereas we are only making things worse or even applying an “invisible” bias we did not know existed.

Watch the video below.

Did you enjoy it; let us know what you think in the comments section below. Thank you.

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