11 May HEALTH INSURANCE LEADS TO WHAT TYPES OF MORAL HAZARDS?
If Tom purchases a comprehensive auto insurance because he knows he is is a
reckless driver, his behavior is an example of moral hazard. 20)
Copayments and deductibles in insurance policies increase moral hazard. 21)
If Tom drives a car more recklessly after he purchases a comprehensive plan,
the change in his behavior is an adverse selection problem. 22)
Deposit insurance creates a moral hazard that depositors have less incentive to
monitor their bank. Recall
the Application about how having car insurance affects driving behavior to
answer the following question(s).23)
Recall the Application. The theory of moral hazard suggests that uninsured
drivers drive less carefully than insured drivers. 24)
Recall the Application. When a state makes car insurance compulsory, decreasing
the number of uninsured drivers, roads tend to become less hazardous. 25)
What is moral hazard? 26)
Health insurance leads to what types of moral hazards? 27)
What are the main differences between adverse selection and moral hazard in the
insurance market? 28)
Why can car insurance companies charge higher auto rates for new customers than
for established customers, all else held constant?
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