Article: COLUMN: The moral hazard majority

Evan Lisull
University Wire
01-17-2008
(Arizona Daily Wildcat) (UWIRE) TUCSON, Ariz. -- While yesterday marked the beginning of a new semester, many students are far more eager for the beginning of a new party season, starting this weekend. Some, however, will be relegated to the thankless duty of designated driver. Yet the presence of a DD allows everyone else in the group to party without abandon, making questionable choices that wouldn't have been made otherwise. Without the presence of this designated driver, students are far more cautious of their behavior.

This is an illustration of an economic concept known as "moral hazard." A person protected from risk behaves far more dangerously ...

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