Moraaliriski

Moraaliriski, also known as moral hazard, is a situation where one party in a transaction has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. This often arises when one party has more information about its actions or intentions than the other party. In essence, it's the tendency for individuals or entities to behave more carelessly or take greater risks when they are protected from the potential negative consequences of those actions.

This phenomenon is prevalent in various fields, including insurance, finance, and economics. For example, an individual with comprehensive car insurance might be less cautious about driving habits, knowing that the insurance company will cover the costs of damages in an accident. In finance, a bank that expects to be bailed out by the government if it faces financial distress might engage in riskier lending practices. The existence of moral hazard can lead to inefficient outcomes, as the protected party may not make the most optimal decisions from a societal perspective.

Mitigating moral hazard often involves aligning incentives or increasing accountability. This can be achieved through measures like deductibles in insurance policies, co-payments, performance-based contracts, or regulatory oversight. The goal is to ensure that the party taking the risk also bears a significant portion of the potential downside, thereby encouraging more prudent behavior.