English, Article edition: THE POLITICAL ECONOMY OF MORAL HAZARD Jörg Guido HÜLSMANN; Economie et de Gestion; Angers

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Bookmark: http://trove.nla.gov.au/version/197788
Physical Description
  • article
Language
  • English

Edition details

Title
  • THE POLITICAL ECONOMY OF MORAL HAZARD
Author
  • Jörg Guido HÜLSMANN
  • Economie et de Gestion
  • Angers
Physical Description
  • article
Notes
  • political economy, Moral hazard, information asymmetries, economic systems, Austrian economics
  • RePEc:prg:jnlpol:v:2006:y:2006:i:1:id:544:p:35-47
  • Conventional theory explains moral hazard as a consequence of information asymmetries. The present paper proposes an alternative approach. We argue that information asymmetries are just one among several causes of moral hazard and that they entail negative consequences for third parties only accidentally. By contrast, moral hazard also results from government interventionism. And in this case negative consequences are systematic and do result even in the absence of information asymmetries.
  • Moral hazard, political economy, information asymmetries, economic systems, Austrian economics
Language
  • English
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