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The Economics of Privacy

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Author Info
Kai-Lung Hui (National University of Singapore)
I.P.L. Png (National University of Singapore)

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Abstract

This chapter reviews economic analyses of privacy. We begin by scrutinizing the “free market” critique of privacy regulation. Welfare may be non-monotone in the quantity of information, hence there may be excessive incentive to collect information. This result applies to both non-productive and productive information. Over-investment is exacerbated to the extent that personal information is exploited across markets. Further, the “free market” critique does not apply to overt and covert collection of information that directly causes harm. We then review research on property rights and challenges in determining their optimal allocation. We conclude with insights from recent empirical research and directions for future research.

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Publisher Info
Paper provided by EconWPA in its series Industrial Organization with number 0505007.

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Length: 54 pages
Date of creation: 19 May 2005
Date of revision: 29 Aug 2005
Handle: RePEc:wpa:wuwpio:0505007

Note: Type of Document - pdf; pages: 54
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Benjamin Hermalin & Michael Katz, 2006. "Privacy, property rights and efficiency: The economics of privacy as secrecy," Quantitative Marketing and Economics, Springer, vol. 4(3), pages 209-239, September. [Downloadable!] (restricted)
  2. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June. [Downloadable!] (restricted)
  3. Posner, Richard A, 1981. "The Economics of Privacy," American Economic Review, American Economic Association, vol. 71(2), pages 405-09, May. [Downloadable!] (restricted)
  4. Il-Horn Hann & Kai-Lung Hui & Sang-Yong Tom Lee & Ivan Png, 2005. "Consumer Privacy and Marketing Avoidance," Industrial Organization 0503009, EconWPA. [Downloadable!]
  5. Boyce, Rebecca R, et al, 1992. "An Experimental Examination of Intrinsic Values as a," American Economic Review, American Economic Association, vol. 82(5), pages 1366-73, December. [Downloadable!] (restricted)
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  7. Charles M. Kahn & James McAndrews & William Roberds, 2000. "A theory of transactions privacy," Working Paper 2000-22, Federal Reserve Bank of Atlanta. [Downloadable!]
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  8. George J. Stigler, 1980. "An Introduction to Privacy in Economics and Politics," University of Chicago - George G. Stigler Center for Study of Economy and State 10, Chicago - Center for Study of Economy and State.
  9. Curtis R. Taylor, 2004. "Consumer Privacy and the Market for Customer Information," RAND Journal of Economics, The RAND Corporation, vol. 35(4), pages 631-650, Winter.
  10. Richard A. Posner, 1980. "The Economics of Privacy," University of Chicago - George G. Stigler Center for Study of Economy and State 16, Chicago - Center for Study of Economy and State.
  11. Curt Taylor, 2004. "Privacy and Information Acquisition in Competitive Markets," Berkeley Olin Program in Law & Economics, Working Paper Series 1165, Berkeley Olin Program in Law & Economics. [Downloadable!]
  12. Mussa, Michael & Rosen, Sherwin, 1978. "Monopoly and product quality," Journal of Economic Theory, Elsevier, vol. 18(2), pages 301-317, August. [Downloadable!] (restricted)
  13. Konrad, Kai A., 2001. "Privacy and time-consistent optimal labor income taxation," Journal of Public Economics, Elsevier, vol. 79(3), pages 503-519, March. [Downloadable!] (restricted)
  14. Shyam NMI Sunder & Matthew A. Cronin & Robert E. Kraut & James Morris & Rahul Telang, 2002. "Markets for Attention: Will Postage for Email Help?," Yale School of Management Working Papers ysm301, Yale School of Management. [Downloadable!]
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  15. Boadway, Robin & Marceau, Nicolas & Marchand, Maurice, 1996. "Investment in Education and the Time Inconsistency of Redistributive Tax Policy," Economica, London School of Economics and Political Science, vol. 63(250), pages 171-89, May. [Downloadable!] (restricted)
  16. Il-Horn Hann & Kai-Lung Hui & Tom S. Lee & I.P.L. Png, 2003. "The Value of Online Information Privacy: An Empirical Investigation," Industrial Organization 0304001, EconWPA, revised 01 Apr 2003. [Downloadable!]
  17. Katz, Michael L, 1984. "Firm-Specific Differentiation and Competition among Multiproduct Firms," Journal of Business, University of Chicago Press, vol. 57(1), pages S149-66, January. [Downloadable!] (restricted)
  18. Hui-Wen, Koo & Png, I. P. L., 1994. "Private security: Deterrent or diversion?," International Review of Law and Economics, Elsevier, vol. 14(1), pages 87-101, March. [Downloadable!] (restricted)
  19. Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August. [Downloadable!] (restricted)
  20. Richard A. Posner, 1978. "Privacy, Secrecy, and Reputation," University of Chicago - George G. Stigler Center for Study of Economy and State 4, Chicago - Center for Study of Economy and State.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Simon P. Anderson & André de Palma, 2006. "Information Congestion," Virginia Economics Online Papers 364, University of Virginia, Department of Economics. [Downloadable!]
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