>>> Michael Nuwer <[EMAIL PROTECTED]> 11/28/2007 2:32 PM >>> raghu wrote: > Isn't moral hazard just econospeak for a familiar phenomenon: socialized > risk and privatized profit? > -raghu.
Stiglitz sees moral hazard an any actions by parties to an agreement that are short of due care. In his hands, any incentive problem is a moral hazard problem. Could you please expand on what you mean by socializing risk? ^^^^^ CB: "Due care" is a legal concept from torts.
