1. There must be a financial dimension for it to be a conflict of interest. 
2. Conflicts of interest increase the possibility of bias. 
3. A project needs to be funded by an external source of funds for any conflict of interest. 
4. A project must be supported by an external source for any conflicts of interest to be present.
5. Researchers cannot be allowed to have any conflict of interest.

Answer: Conflicts of interest increase the possibilities of bias. 

If you were looking for an answer to the question raised on this topic, I have provided you with the solution. But, unless you are taking a deep dive into the case itself, you do not clearly understand why the correct answer is correct. 

Go through this blog post for a complete and straightforward answer to your query. Here, I have explained what conflict of interest means and how the definition justifies the correct answer as correct. 

What Is Conflict Of Interest In Research?

A conflict of interest in research stands for a situation where different factors (financial or others) affect a researcher’s professional judgment. It is affected or appears to have been affected by the same. There are three types of conflicts of interest in this case. Those involve – Financial, actual, and perceived factual interest. 

In a more generalized aspect, a COI means – you are supposed to act in your best interest when doing something to benefit yourself socially and financially. So, when you fail to keep your professional and financial interests distinct, you end up sacrificing one or the other. This is when the conflict of interest arises. 

One example would be getting paid for a promotion your employer asks you for and taking discounts from the vendors providing it. So, if you are just offering promotions and discounts on the products to your consumers and clients, it might still result in a change in the marketing strategy, leading to a conflict of interest. 

When Does Conflict Of Interest Arise In Research?

A conflict of interest might arise under the following circumstances – 

• It might happen when a researcher prioritizes their own obligations and interests above duties pertaining to the research. 
• When they have interests regarding the outcome of the research, it may lead to them having personal advantages.
• When the researcher has competing personal, financial, and professional connections or has their personal stands or values. 

Different Types Of Conflicts Of Interests

A conflict of interest arises when a director or an employee has a private interest that can potentially influence or affect their actions and decisions. This type of conflict can get in the way of their performance and stop them from making neutral decisions. 

Financial Conflicts Of Interest

In research, one of the most prevalent sources of conflict of interest is related to financial connections. This can change and influence the researcher’s thinking pattern and influence their research pattern. It is quite normal for the researchers to be required to report any conflicting financial connections they might have personally (including those of the closest family members). 

Non-Financial Conflict Of Interest

Conflicts of interest heighten the chances of someone being biased. Non Financial conflicts of interest are one of the major examples of that. The researchers here do not get financially affected by the decisions. But, they are affected in other ways that can make them appear to have certain biases. 

Some examples of it should be –

• Gifts like drugs, tools, software, and equipment. 
• Holding a position on the boards. 
• Access to data repositories. 
• Close relationship with editors at the journal. 
• Serving as an expert witness. 

Personal Conflict Of Interest

Another prevalent non financial conflict of interest comes from the personal affiliations or connections of the researchers. A personal conflict of interest exists if the researcher has any personal ties with the journal’s editor. It is also possible for personal conflict of interest to change because of the inherent views and ideologies of the researcher. 

For example, the researcher can write a religious paper requiring their neutral standing. But, due to their strong religious standing, the outcome of the research might change.

Conflict Of Roles

A conflict of interest can arise when the researcher has a public role with a different organization alongside their university responsibilities. A simple way of explaining the same would be – a researcher having their secondary interests influence their primary responsibilities. These secondary interests are easily associated with getting career advancement or gaining some profit on a personal level. 

Predetermination

It is a type of conflict of interest that happens when someone makes decisions without considering different evidence. One of the examples would be – a decision might have to face accusation for predetermination if their past sayings and actions are suggestive of their determination before considering all the evidence.

Conflicts Of Interest Increase The Possibilities Of Bias

“Which of the following is true about conflicts of interest?” Out of the five different options, you can choose from the statement in this heading as the correct answer. But why? Here is a logical explanation. 

COI and biases are close and interchangeably used terms. The possibilities of a conflict of interest can be actual or apparent based on whether or not a reasonable person objectively feels that a conflict can possibly arise.

Biases appear when the researchers have their preferences and ideas. These biases can cause serious COI when presenting their work in an environment with some aspect of peer review involved. 

Also, COI increases the chance of increasing unintentional bias. It must be considered that unintentional biases can cause serious threats compared to deliberate misconduct because someone with a bias is usually unaware of how their actions got affected. 

Conclusion

There are many facts regarding conflict of interest that are true. Some facts are also not correct. But, if you were looking for the answer to the question raised in this article, I hope you have your answer by now. However, the rest of the alternatives present under the question are not entirely correct. 

Would you be interested in reading more content on conflict of interest? Please let us know if we should cover more such topics for you.

Read Also:

• What Are Lifecycle Funds? How Does It Work? Pros & Cons
• Top Tips For Finding The Best Endowment Consultant For Your Needs
• What Is A 3 Fund Portfolio? Is It Best For Your Retirement Investment?