Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2021
Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market … second-degree moral hazard – the tendency of the supply side in a market to react to anticipated moral hazard on the demand … side by increasing the extent or the price of the service. In the market for taxi rides, our moral hazard manipulation …