For this discussion, your focus will be to think through what asymmetric information, moral hazard, and adverse selection have to do with hiring a police officer.
Consider the following statement:
- Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material.
In your discussion post, address the following:
- Speculate on why police departments do not increase their applicant pool by dropping this requirement and how asymmetric information, moral hazard, and adverse selection are involved?
Note: In your discussion posts for this course, do not rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.