The Economist on adverse selection and moral hazard

The Economist is running a series on classic articles that have transformed economics, starting with George Akerlof’s 1970 “Market for Lemons” paper. Akerlof catalyzed the field of information economics by pointing out possible consequences of asymmetric information in the case where one party to a transaction has more complete information about product quality than the … More The Economist on adverse selection and moral hazard