The honesty level of educated people is possibly higher due to a better understanding of the examinable options available for actions and decisions. They look at data and despite any statistical reason for it to succeed, there is an unloved answer.
People invest thier hard earned money in retail mutual funds. No one seems to realise or care that my his is the worst thing they can do. The entire industry has its main focus in gathering assets under management so they can earn ongoing commissions