Reputation in the Market for Stolen Data
AbstractInternet commerce has made it easier to compare prices and shop online.� However, it has also exposed consumers to a new kind of crime in the form of the electronic theft of payment details.� However the skills required to successfully intercept payment data differ from the skills required to use that information for oneâ€™s own gain.� This creates gains to trade between those who steal the data and those who know how to use it.� This particular illicit market has the added disadvantage that trade takes place online and the only identification of any paticular trader comes from a username which can be changed at zero cost.� This paper examines the reputation mechanisms that keep this market working and considers whether they might constitute an Achillesâ€™ Heel that governments keen to reduce crime might exploit.
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Bibliographic InfoPaper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 611.
Date of creation: 01 Jun 2012
Date of revision:
Reputation; Illicit trade; Illegal behavior and the enforement of law;
Find related papers by JEL classification:
- K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- Z18 - Other Special Topics - - Cultural Economics - - - Public Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-06-25 (All new papers)
- NEP-ICT-2012-06-25 (Information & Communication Technologies)
- NEP-LAW-2012-06-25 (Law & Economics)
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