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the claim

Economists define moral hazard as a situation where one person makes the decision about how much risk to take, while someone else bears the costs if things go badly.

the verdict
SUPPORTED
the evidence backs this
Recorded sources
2 sources for · 0 against

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Is it true that economists define moral hazard as a situation where one person makes the decision about how much risk to take, while someone else bears the costs if things go badly?

Yes. Economists and academic literature explicitly define moral hazard as a situation where one party decides how much risk to take while another party bears the negative consequences.

Verdict: SUPPORTED · 2 sources for, 0 against · Last checked

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Judged against reference works: claims of this kind are settled by reference works, not journal abstracts.

Evidence for · 2
Wikipedia: Moral hazard
Reference article covering this claim directly
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Wikipedia: Moral hazard. (n.d.). Wikipedia. https://en.wikipedia.org/wiki/Moral_hazard

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More for · 1
PLOS (all journals): Economic Decisions for Others: An Exception to Loss Aversion Law
Explicitly quotes the exact definition used in the claim regarding risk decision and cost-bearing.
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PLOS (all journals): Economic Decisions for Others: An Exception to Loss Aversion Law. (n.d.). PLOS (all journals). https://doi.org/10.1371/journal.pone.0085042

2 recorded entries grouped as this source

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Semantic Scholar peS2o: Economic Decisions for Others: An Exception to Loss Aversion Law
Matches item [1], using the exact wording that economists describe moral hazard as stated in the claim.
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Semantic Scholar peS2o: Economic Decisions for Others: An Exception to Loss Aversion Law. (n.d.). Semantic Scholar peS2o. https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0085042&type=printable

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