The quintessential crime of the information age is identity theft, the malicious use of personal identifying data. In this paper, the authors present a model of identities and their use in credit transactions. The incidence of identity theft represents a tradeoff between a desire to avoid costly and/or invasive monitoring of individuals on the one hand, and the need to control transaction fraud on the other. The results suggest that technological advances will not eliminate this tradeoff.
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Charles M. Kahn & James McAndrews & William Roberds, 2000.
"A theory of transactions privacy,"
Working Paper
2000-22, Federal Reserve Bank of Atlanta.
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Ping He & Lixin Huang & Randall Wright, 2005.
"Money And Banking In Search Equilibrium,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 637-670, 05.
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Charles M. Kahn & James McAndrews & William Roberds, 2005.
"Money Is Privacy,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 377-399, 05.
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Other versions:
Charles M. Kahn & James McAndrews & William Roberds, 2004.
"Money is privacy,"
Working Paper
2004-18, Federal Reserve Bank of Atlanta.
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