Topic: Labor Markets - Employment, Wages and Moral Hazard

Question:

It has been asserted that moral hazard occurs in part because of information asymmetry. In other words, one decision maker has more information about the outcome of specific course of action compared to another. For example, one bank may have detailed information about the behavior of mortgage rates than others. How can this kind of information asymmetry be minimized or can it be minimized to reduce the impacts of moral hazard?