Privacy and personal data collection with information externalities

We provide a theoretical model of privacy in which data collection requires consumers' consent and consumers are fully aware of the consequences of such consent. Nonetheless, excessive collection of personal information arises in the monopoly market equilibrium which results in excessive loss o...

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Veröffentlicht in:Journal of public economics Jg. 173; S. 113 - 124
Hauptverfasser: Choi, Jay Pil, Jeon, Doh-Shin, Kim, Byung-Cheol
Format: Journal Article
Sprache:Englisch
Veröffentlicht: Elsevier B.V 01.05.2019
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ISSN:0047-2727, 1879-2316
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Abstract We provide a theoretical model of privacy in which data collection requires consumers' consent and consumers are fully aware of the consequences of such consent. Nonetheless, excessive collection of personal information arises in the monopoly market equilibrium which results in excessive loss of privacy compared to the social optimum. The main mechanism for this result is information externalities and users' coordination failure in which some users' decision to share their personal information may allow the data controller to infer more information about non-users. We also show that the emergence of data brokerage industry can facilitate the collection and monetization of users' personal data even in a fragmented market where no individual website has incentives to do so independently due to scale economies in data analytics. We discuss policy implications of our analysis in light of the recent EU General Data Protection Regulation (GDPR).
AbstractList We provide a theoretical model of privacy in which data collection requires consumers' consent and consumers are fully aware of the consequences of such consent. Nonetheless, excessive collection of personal information arises in the monopoly market equilibrium which results in excessive loss of privacy compared to the social optimum. The main mechanism for this result is information externalities and users' coordination failure in which some users' decision to share their personal information may allow the data controller to infer more information about non-users. We also show that the emergence of data brokerage industry can facilitate the collection and monetization of users' personal data even in a fragmented market where no individual website has incentives to do so independently due to scale economies in data analytics. We discuss policy implications of our analysis in light of the recent EU General Data Protection Regulation (GDPR).
Author Kim, Byung-Cheol
Choi, Jay Pil
Jeon, Doh-Shin
Author_xml – sequence: 1
  givenname: Jay Pil
  surname: Choi
  fullname: Choi, Jay Pil
  email: choijay@msu.edu
  organization: Michigan State University, 220A Marshall-Adams Hall, East Lansing, MI 48824–1038, USA
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  givenname: Doh-Shin
  surname: Jeon
  fullname: Jeon, Doh-Shin
  email: dohshin.jeon@gmail.com
  organization: Toulouse School of Economics, University of Toulouse Capitole, Manufacture de Tabacs, 21 allees de Brienne, 31000 Toulouse, France
– sequence: 3
  givenname: Byung-Cheol
  surname: Kim
  fullname: Kim, Byung-Cheol
  email: bkim34@cba.ua.edu
  organization: Department of Economics, Finance, & Legal Studies, Culverhouse College of Business, University of Alabama, Tuscaloosa, AL, 35487, USA
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Keywords privacy
information externalities
GDPR
personal data
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Snippet We provide a theoretical model of privacy in which data collection requires consumers' consent and consumers are fully aware of the consequences of such...
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StartPage 113
SubjectTerms GDPR
information externalities
personal data
privacy
Title Privacy and personal data collection with information externalities
URI https://dx.doi.org/10.1016/j.jpubeco.2019.02.001
Volume 173
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