Which of the following is NOT a method we discussed in lecture to combat adverse selection:...
Which of the following is NOT a method we discussed in lecture
to combat adverse selection:
a) Mandatory insurance
b) Paying workers piece rate
c) Lemon laws
d) Standards and certification
e) Signaling, such as a money back guarantee
Homework Answers
Answer (B) Paying workers piece rate
All other options are used as measures to control adverse selection problem. Piece rate pay is paying an employee a fixed pay rate for each unit they produce. It will help more in solving the issue of moral hazard. than adverse selection because output work can only be used in limited situations when the employer doesn't know which hours the worker does.
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