Swiss researchers have come up with what they say is compelling scientific evidence that bankers lie for financial gain.
The team at the University of Zurich used game playing experiments to show “that the prevailing culture in the banking industry weakens and undermines the honesty norm, implying that measures to re-establish an honest culture are very important”.
The study, published in the leading journal Nature, probes the psychology behind what the researchers call “a dramatic loss of reputation and a crisis of trust in the financial sector”, as a result of rogue trading, rigged interest rates such as Libor and tax evasion scandals.
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