Moral hazard
Revision as of 16:36, 2 June 2020 by Kevmwangi (talk | contribs) (Created page with "Moral hazard is when people have insurance against a certain event, they are less likely to guard against that event occurring. ==Definition== According to Principles o...")
Moral hazard is when people have insurance against a certain event, they are less likely to guard against that event occurring.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Moral hazard. When people have insurance against a certain event, they are less likely to guard against that event occurring.
