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With regards to adverse selection and moral hazard problems: The former is the result of a top-down conflict, whereas the latter is due to a bottom-up conflict in an organization. The former takes place prior to a contract, whereas the latter takes place after a contract. a The former is the result of a bottom-up conflict, whereas the latter is due to a top-down conflict in an organization. O The former takes place after a contract, whereas the latter takes place prior to a contract