A history of the term "moral hazard"

Rowell, David and Connelly, Luke B. (2012) A history of the term "moral hazard". Journal of Risk and Insurance, 79 4: 1051-1075.


Author Rowell, David
Connelly, Luke B.
Title A history of the term "moral hazard"
Journal name Journal of Risk and Insurance   Check publisher's open access policy
ISSN 0022-4367
1539-6975
Publication date 2012
Sub-type Article (original research)
DOI 10.1111/J.1539-6975.2011.01448.x
Volume 79
Issue 4
Start page 1051
End page 1075
Total pages 25
Place of publication Hoboken, NJ, United States
Publisher Wiley-Blackwell Publishing
Collection year 2013
Language eng
Abstract The term “moral hazard” when interpreted literally has a strong rhetorical tone, which has been used by stakeholders to influence public attitudes to insurance. In contrast, economists have treated moral hazard as an idiom that has little, if anything, to do with morality. This article traces the genesis of moral hazard, by identifying salient changes in economic thought, which are identified within the medieval theological and probability literatures. The focus then shifts to compare and contrast the predominantly, normative conception of moral hazard found within the insurance-industry literature with the largely positive interpretations found within the economic literature.
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ
Additional Notes Article first published online: 8 February 2012.

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2013 Collection
School of Economics Publications
School of Medicine Publications
 
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Created: Fri, 22 Jun 2012, 09:40:06 EST by Chesne McGrath on behalf of Medicine - Royal Brisbane and Women's Hospital