因此，这些银行或许更易做出风险投资，如同肯尼斯·阿罗(1972)和约瑟夫·施蒂格利茨(2001)提出的道德风险的这个概念。

As a consequence, these Banks may be more likely to make risky investments, a concept described by Kenneth Arrow (1972) and Joseph Stiglitz (2001) as moral hazard.

youdao

他曾经与前诺贝尔奖获得者肯尼斯·阿罗长久共事，也是是另一位诺贝尔奖获得者丹尼尔·麦克法登的研究生导师。

He worked long ago with one previous winner, Kenneth Arrow, and was the graduate adviser to another, Daniel McFadden.

youdao

经济学家最初开始理解这种“道德风险”现象是肯尼斯·阿罗在1963年论述它的时候。

Economists first cottoned on to this phenomenon of "moral hazard" when Kenneth Arrow wrote about it in 1963.

youdao

My graduate student came back and said, it seems to have been Sir John Hicks in London in his 1931--1939 book, A Value in Capital.

我的助研说,约翰·理查德·希克斯勋爵,1904-1989,英国经济学家1972年与肯尼斯·阿罗一同获得诺贝尔经济学奖,在1939年所写的《资产价值》

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