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单词 moral hazard
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moral hazard
moral hazard n. Insurance and Economics the effect of insurance on the likelihood of the insured event occurring; the lack of incentive to avoid risk where there is protection against its consequences, e.g. by insurance.
ΚΠ
1875 Amer. Cycl. X. 430/2 If the contracts to pay the ascending scale of premiums extended for many years or for life, there would be nothing but a stipulation without penalty to prevent sound lives from discontinuing their policies, while the impaired lives would be pretty sure to continue. Here is a moral hazard too great to be incurred in the present state of society.]
1881 Jrnl. Statist. Soc. 44 515 The moral hazard of the business can only be compassed by judgment and experience.
1895 Q. Jrnl. Econ. 9 412 Lack of moral character gives rise to a class of risks known by insurance men as moral hazards.
1968 Amer. Econ. Rev. 58 531 It will also be shown that the problem of ‘moral hazard’ in insurance has, in fact, little to do with morality, but can be analyzed with orthodox economic tools.
2001 Financial Times (Electronic ed.) 2 Mar. Ted Galen Carpenter of the Cato Institute, a free market think tank, argues that a big financial bail-out would risk creating perverse economic incentives or moral hazard.
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