When they invented fire insurance, in the 1600s, there was a lot of skepticism because anyone can burn down their house.

十七世纪时，人们发明了火险，当时存在很多质疑,因为任何人都可以烧毁他们的房子。

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I get fire insurance on my house and so I behave badly: I deliberately burn the house down to collect on my insurance.

我为我的房子投了火险，于是我就：,我故意烧毁房屋,以便领走保险金。

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Now, how can the insurance company ever evaluate every house properly to avoid that?

如今，保险公司是如何准确评估,每一个房屋的价值而避免那种情况呢？

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The classic moral hazard problem is the problem that you give fire insurance on a house and someone burns down the house in order to collect the insurance.

有个经典的道德风险的例子就是,给一栋房子投保了火险,有人就可能会烧了这栋房子,以获得保险赔付

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They said, it's not going to work because you have to decide how much the house is insured for and then anybody--If you ever make a mistake and you insure it for too much, then the people who realize they've got one on the insurance company-- they've insured the house for more than it's worth-- they'll burn down their house and collect the money.

他们说，火险根本无法实施,因为你必须判断,这房子的保价是多少,一旦你出现了一些失误,保价评估得过高，那些意识到他们可能会从,保险公司赚利的人们-,即保险公司的保价高于房子的实际价值-,他们就会烧掉自己的房子来赚钱。

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