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Determining the moral hazard

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Reference no: EM131281749

"Moral hazard" is a term often used in the context of peoples' behavior once they have insurance. Szuchman and Anderson explore the idea of moral hazard in personal relationships. How would you define moral hazard? Provide an example of moral hazard that you have observed in your own community or workplace.

How does moral hazard differ from adverse selection? Provide an example to illustrate this concept.

Reference no: EM131281749

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