Examlex
A rock of mass M with a density twice that of water is sitting on the bottom of an aquarium tank filled with water.The normal force exerted on the rock by the bottom of the tank is
Moral Hazard
A situation where one party engages in risky behavior knowing that it is protected against the consequences, often due to the existence of insurance or similar safety nets.
Adverse Selection
A situation in which one party in a transaction has more or better information than the other, often leading to an imbalance and potentially unfavorable outcomes.
Hidden Characteristics
Traits or features of a product or service that are not immediately observable to the buyer, potentially leading to information asymmetry.
Psychology
The scientific study of the mind and behaviors, encompassing a wide range of topics from cognitive processes to social interactions.
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