Moral Dimensions of Moral Hazards

Utilitas 26 (1):34-50 (2014)

Authors
Will Braynen
Stanford University
Abstract
‘Moral hazard’ is an economic term which commonly refers to situations in which people have a tendency to increase their exposure to risk when the costs of their actions, should they get unlucky, befall someone else. Once insured, for example, a person might have little reason, financially speaking, to be careful if he will get fully reimbursed for his losses should things go wrong, especially if he does not risk an increase in his insurance premium fees. In this article, I argue that moral hazards are not morally neutral. To this end, I distinguish between concepts that call for a moral value judgement but do not have a fixed moral value and those that call for a moral value judgement and also have a fixed moral value. In short, this article examines questions that lie at the intersection of ethics and economics
Keywords moral hazards  economics  perfect information  adverse selection  information asymmetries
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Reprint years 2013, 2014
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DOI 10.1017/s0953820813000204
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References found in this work BETA

What is Equality? Part 2: Equality of Resources.Ronald Dworkin - 1981 - Philosophy and Public Affairs 10 (4):283 - 345.
What's so Moral About the Moral Hazard?Benjamin Hale - 2009 - Public Affairs Quarterly 23 (1):1-26.

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The Morals of Moral Hazard: A Contracts Approach.McCaffrey Matthew - 2017 - Business Ethics: A European Review 26 (1):47-62.

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