Avoiding Leading Questions 

Israeli psychologists Amos Tversky and Daniel Kahneman pioneered the field of behavioral economics. A core insight from their research is that people’s responses and decisions shift based on how questions or choices are framed. Diligence is no different. How you frame a question can meaningfully influence the answer you receive.  

A common mistake is the leading question—one that subtly suggests the response you expect or even prefer. These questions can bias interviews, inflate confidence in management narratives, and undermine the objectivity of your findings. 

Example: “You didn’t see much churn from the pricing change, right?”

This phrasing nudges the respondent toward agreement, discourages nuance, and pressures them to confirm your implied assumption. 

Leading questions are especially risky in M&A because incentives and time pressure already bias conversations, particularly in management meetings. When the question points to a preferred answer—intentionally or not—management may follow your lead, leaving you with confirmation (potentially flawed) rather than insight. 

How to Avoid Leading Questions: 

• Remove assumptions and qualifiers (“right?”, “fair to say…?”, “would you agree that…”). 

• Replace implied conclusions with neutral prompts. 

• Ask open-ended questions before testing hypotheses. 

• Ask the question without offering an explanation. 

• Avoid signaling that something is “good” or “bad.” 

• Create space for answers you might not expect—or want—to hear.  

A good diligence question invites clarity, not compliance. By keeping your phrasing neutral, you generate more reliable insights, uncover hidden risks, and build a truer picture of the business.