Regulating data privacy and cybersecurity

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Lam, Wing Man Wynne and Seifert, Jacob (2023) Regulating data privacy and cybersecurity. Journal of Industrial Economics, 71 (1). pp. 143-175. ISSN 0022-1821

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Abstract

This paper studies firms' data privacy and cybersecurity choices. We emphasise the strategic interdependence between these decisions and demonstrate that security in both the market equilibrium and the social optimum tends to be higher when data is shared. We also identify important market failures in the sense that firms tend to under-invest in security and over-share data. Our welfare analysis of a minimum security standard, disclosure and consumer education policies, liability rules and consumer mitigation strategies highlights the need for a co-ordinated approach to regulation.

Item Type:	Article
Uncontrolled Keywords:	accounting,business, management and accounting(all),economics and econometrics ,/dk/atira/pure/subjectarea/asjc/1400/1402
Faculty \ School:	Faculty of Social Sciences > Norwich Business School
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Responsible Business Regulation Group Faculty of Social Sciences > Research Centres > Centre for Competition Policy
Related URLs:	http://www.scopus.com/inward/record.url?...
Depositing User:	LivePure Connector
Date Deposited:	18 Sep 2021 01:02
Last Modified:	30 Jan 2024 02:44
URI:	https://ueaeprints.uea.ac.uk/id/eprint/81453
DOI:	10.1111/joie.12316

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