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The Economics of Privacy

  • Kai-Lung Hui

    (National University of Singapore)

  • I.P.L. Png

    (National University of Singapore)

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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File URL: http://128.118.178.162/eps/io/papers/0505/0505007.pdf
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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
Contact details of provider: Web page: http://128.118.178.162

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  6. 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.
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  8. 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.
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  18. Il-Horn Hann & Kai-Lung Hui & Sang-Yong Tom Lee & Ivan Png, 2005. "Consumer Privacy and Marketing Avoidance," Industrial Organization 0503009, EconWPA.
  19. Posner, Richard A, 1981. "The Economics of Privacy," American Economic Review, American Economic Association, vol. 71(2), pages 405-09, May.
  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.
  21. M. Tolga Akçura & Kannan Srinivasan, 2005. "Research Note: Customer Intimacy and Cross-Selling Strategy," Management Science, INFORMS, vol. 51(6), pages 1007-1012, June.
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  23. Taylor, Curt, 2004. "Privacy and Information Acquisition in Competitive Markets," Berkeley Olin Program in Law & Economics, Working Paper Series qt5hk0k89w, Berkeley Olin Program in Law & Economics.
  24. 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.
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