: SAGE: adverse selection and moral hazard

social science subjects > politics and international relations > political science > ethics and political corruption > adverse selection and moral hazard

adverse selection and moral hazard

Adverse selection and moral hazard are informational imperfections potentially presented in any activity or transaction because of asymmetric information about involved risks. Adverse selection is a possibility that actors undertake an activity or transaction based on actors' characteristics unobservable for others (these are informed actors because they know their own characteristics). [Source: The Encyclopedia of Political Science; Adverse Selection and Moral Hazard]

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