Ricky goes to work 8 hours per day, but while he is at work he spends most of his time visiting internet sites monitoring his fantasy football teams. This is an example of

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Ricky's behavior of spending time on fantasy football instead of working is an example of moral hazard and hidden action. His employer cannot fully observe how he spends his time at work, and this creates an incentive for Ricky to shirk his responsibilities and engage in non-work related activities. This is a classic example of moral hazard, where the behavior of one party (Ricky) is hidden from the other party (his employer), leading to adverse consequences.

Ricky Goes to Work 8 Hours Per Day, but While