Moral hazard refers to situations where the actions of managers/entrepreneurs are not observable and/or not verifiable by investors. Sometimes it is called the agency problem referring to a theoretical framework when one party (principal) hires another party (an agent) to perform some tasks and the interests of parties are not perfectly aligned.

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Crowdfunding and Moral Hazard Problems

  • Anton Miglo,
  • Victor Miglo

摘要

Moral hazard refers to situations where the actions of managers/entrepreneurs are not observable and/or not verifiable by investors. Sometimes it is called the agency problem referring to a theoretical framework when one party (principal) hires another party (an agent) to perform some tasks and the interests of parties are not perfectly aligned.