For clarity: “In economics, moral hazard occurs when an individual has an incentive to increase their exposure to risk because they do not bear the full costs

For clarity: “In economics, moral hazard occurs when an individual has an incentive to increase their exposure to risk because they do not bear the full costs of that risk” In this case, the risk is the increased cost structure in order to get the benefit of accolades from winning the zero sum rankings game. If it were their money instead of the universities’ money, they likely wouldn’t have increased the cost structure