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SUMMARY:CONFLICTS OF INTEREST\, ETHICAL RULES\, AND COMPETITION - Jan Bouc
 kaert\, Full Professor of Economics\, University of Antwerp
DTSTART:20191120T120000Z
DTEND:20191120T133000Z
UID:TALK133675@talks.cam.ac.uk
CONTACT:Emily Brown
DESCRIPTION:Attorneys are conflicted when simultaneously representing plai
 ntiff and defendant. So are strategy consultants offering advice to compet
 ing firms. We show that such representational conflicts of interests give 
 rise to negative network externalities in professional service markets\, g
 ranting the firms market power. A strict professional standard for acting\
 , i.e. undivided loyalty\, may strengthen negative network externalities a
 nd reduce competition even further. In contrast\, strict standards for Chi
 nese walls intensify competition. Representational conflicts of interest c
 onstrain firms’ incentives to merge\, favouring an unconcentrated market
 \, thereby indirectly reducing the frequency of conflicts of interest.
LOCATION:W4.05\, Cambridge Judge Business School
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