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Eek, moral hazard

Published on 02/03/09
by matt

In a wonderful titled piece (The Only Thing We Have to Fear is the Fear of ‘Moral Hazard’), Owen Thomas wrote:

The worry is that bailouts will be bad for us in the long term. But in the long term, as one sage noted, we are all dead. We can ban government rescues in the long term, if they’re such a worry. In the short term, the biggest hazard is too much moralizing.

How much evidence is there that moral hazard has any meaningful effect on decision making, for example in choosing to safeguard your home against fire?

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