| 单词 | moral hazard |
| 释义 | moral hazard The situation in which a person has no incentive to act honestly or with due prudence in the absence of penalties. The term is mainly used in the insurance world, where a typical example of a person exposed to moral hazard would be the owner of an insured car, who has little or no incentive to guard against theft. Moral hazard is closely associated with the concept of adverse selection, as when a person purchasing health insurance declines to reveal his or her greater likelihood to need health treatment than the average. |
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