Examlex
Describe Parten's types of play.
Moral Hazard
A situation where a party is more likely to take risks because the negative consequences of the risk will be borne by another party.
Seat Belts
Safety devices designed to secure passengers in a vehicle against harmful movement that may result during a collision or a sudden stop.
Accidents
Accidents are unplanned events that can cause damage, injury, or loss, often stemming from unforeseen circumstances or negligence.
Adverse Selection
A situation in insurance and finance where higher-risk individuals are more likely to apply for or select a particular service, leading to potential losses for the insurer or lender.
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