Someone informed me of a research done by three researchers from Wharton,Harvard Business School and Harvard University relating to commission-based agents in the India life insurance market. The following were some observations: In our first experiment, we randomly vary both the stated belief of the customer as to which product is most suitable, as well information the client provides about his or her actual needs. Thus, we have some treatments where the customer has an initial preference for term insurance but where whole insurance is actually the more suitable product, and vice versa (whole insurance could be a suitable product for an individual who has diffculty committing to saving). If an agent's role is to match clients to suitable products, only the latter information should affect agent recommendations. In fact, we find agents are just as responsive to consumers self-reported (and incorrect) beliefs as they are to consumers needs..... We ......