Towards Balancing Privacy and Efficiency: A Principal-Agent Model of Data-Centric Business

Personal data has emerged as a crucial asset of the digital economy. However, unregulated markets for personal data severely threaten consumers’ privacy. Based upon a commodity-centric notion of privacy, this paper takes a principal-agent perspective on data-centric business. Specifically, this pape...

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Bibliographic Details
Published inSecurity and Trust Management Vol. 9331; pp. 89 - 104
Main Authors Zimmermann, Christian, Nolte, Claus-Georg
Format Book Chapter
LanguageEnglish
Published Switzerland Springer International Publishing AG 2015
Springer International Publishing
SeriesLecture Notes in Computer Science
Subjects
Accountability
Computer security
Data encryption
Information architecture
Principal-agent model
Privacy
Privacy economics
Property rights
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Summary:Personal data has emerged as a crucial asset of the digital economy. However, unregulated markets for personal data severely threaten consumers’ privacy. Based upon a commodity-centric notion of privacy, this paper takes a principal-agent perspective on data-centric business. Specifically, this paper presents an economic model of the privacy problem in data-centric business, in that drawing from contract theory. Building upon a critical analysis of the model, this paper analyzes how regulatory and technological instruments could balance efficiency of markets for personal data and data-subjects’ right to informational self-determination.
ISBN:331924857X
9783319248578
ISSN:0302-9743
1611-3349
DOI:10.1007/978-3-319-24858-5_6