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Problem:
-Suppose a company purchases employers liability insurance to insure against accidents in the workplace. The probability of an accident occurring is 0.02. The insurance company has recommended that the company put on a workplace safety program, which will cost the company $800 to administer. If the program is implemented correctly, the risk of accidents will reduce by 20 times. The insurance company cannot costlessly observe whether the safety program has been appropriately implemented. In the event an accident occurs, the value of the loss would be $600000.
-Explain why moral hazard issues arise when a person/firm purchases insurance? In this case, what is the source of the moral hazard?
-One of the common ways insurance companies address the issue of moral hazard is by introducing deductibles, i.e, the insured party covers certain parts of the losses in the event of an accident. In this case, would the introduction of a 50,000 deductible address the moral hazard problem? [Think of the expected payments in deductibles the firm has to pay under the two conditions]
Predict which will have the most impact on our national economy in the next five years: hospitals, ambulatory care, home healthcare, long-term care, and integra
Do think poker and business are exactly the same? Lying and bluffing are acceptable in both so there are no ethical issues in either case. What do you think?
Identify ten (10) other legislative and regulatory requirements that may be relevant to the hospitality industry and to which all types of businesses must compl
What are strategic alternatives available to healthcare organizations today?
When you consider the work of natural scientists in general, how do you think developments in scientific thinking end up influencing how scientific study is car
What would be the consumer surplus if it was perfectly completive market? What is the Dead weight loss if the market is a monopoly?
She has budgeted a certain amount of money each week for apples and bananas. If she spends all of this budget on apples, she can purchase 6 apples. If she spends all of the budget on bananas, she can afford 9 bananas. What is Amanda's opportunity ..
What's an example of a termination that may be construed as an exception to employment at will based on public policy.
Health information exchange, would regular backups of the computerized patient information system be beneficial in this case?
Discuss the importance of Learning Theories and impact on Career Development.
What barriers are reduced or eliminated by adopting a boundary-less organization?
Why are employees needs and relationship the leading factor that needs to be considered in the business?
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