Economics of Information

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Anamaria Berea - One of the best experts on this subject based on the ideXlab platform.

  • Economics of Information meets social networks from hayek s mental maps to mathematical linguistics
    2018
    Co-Authors: Anamaria Berea
    Abstract:

    At this point in time, the Economics of Information already has a history of more than half a century of theoretical and practical developments. Yet there are still some challenges that the field is facing with respect to establishing a concentrated, focused theory of Economics of Information . Perhaps this is due to the fact that Information is “everywhere,” is so incredibly ubiquitous, and can sustain so many definitions and so many forms under various contexts, subfields, and analyses. Most of the work in the Economics of Information pertains to the analysis of Information for economies, for management and marketing, industrial organization and policy implementations, all in the context of markets or institutions . But there is a small body of research that looks in more depth at Information as an economic good and at some of its fundamental properties and behaviors as an economic good [14], and that is what Economics of Information currently is and mostly is understood as.

  • Economics of Information Meets Social Networks: From Hayek’s Mental Maps to Mathematical Linguistics
    Computational Social Sciences, 2017
    Co-Authors: Anamaria Berea
    Abstract:

    At this point in time, the Economics of Information already has a history of more than half a century of theoretical and practical developments. Yet there are still some challenges that the field is facing with respect to establishing a concentrated, focused theory of Economics of Information . Perhaps this is due to the fact that Information is “everywhere,” is so incredibly ubiquitous, and can sustain so many definitions and so many forms under various contexts, subfields, and analyses. Most of the work in the Economics of Information pertains to the analysis of Information for economies, for management and marketing, industrial organization and policy implementations, all in the context of markets or institutions . But there is a small body of research that looks in more depth at Information as an economic good and at some of its fundamental properties and behaviors as an economic good [14], and that is what Economics of Information currently is and mostly is understood as.

Ross Anderson - One of the best experts on this subject based on the ideXlab platform.

  • the Economics of Information security
    Science, 2006
    Co-Authors: Ross Anderson, Tyler Moore
    Abstract:

    The Economics of Information security has recently become a thriving and fast-moving discipline. As distributed systems are assembled from machines belonging to principals with divergent interests, we find that incentives are becoming as important as technical design in achieving dependability. The new field provides valuable insights not just into “security” topics (such as bugs, spam, phishing, and law enforcement strategy) but into more general areas such as the design of peer-to-peer systems, the optimal balance of effort by programmers and testers, why privacy gets eroded, and the politics of digital rights management.

  • The Economics of Information security
    Science, 2006
    Co-Authors: Ross Anderson, Tyler Moore
    Abstract:

    The Economics of Information security is an emerging area of study. The Economics of Information security is cross-disciplinary as much as interdisciplinary. Economics of Information security is the explicit combination of primary disciplines. Economics of Informations security has the potential to inform security from policy and Economics perspectives. Following its now confirmed tradition of cross-disciplinary publication, Economics of Information security is unified as an intellectual endeavor by a series of workshops. The best from those workshops develops into journal special issues and texts. This works reviews the organization and findings of Economics of Information security.

  • guest editors introduction Economics of Information security
    IEEE Symposium on Security and Privacy, 2005
    Co-Authors: Ross Anderson, B Schneier
    Abstract:

    often, the economic considerations of security are more important than the technical considerations. Guests editors Ross Anderson and Bruce Schneier present six articles that delve into all aspects of this economic angle.

George Loewenstein - One of the best experts on this subject based on the ideXlab platform.

  • recommender systems and the new new Economics of Information
    Conference on Recommender Systems, 2017
    Co-Authors: George Loewenstein
    Abstract:

    George Stigler pioneered the Economics of Information in the 1960s with his observation that Information is a scarce and valuable commodity. Stigler assumed people value Information to the extent, and only to the extent, that it helps them to make better decisions, and that people update their beliefs rationally, in response to new Information. Stigler won the Nobel prize for his contribution, as did three economists, George Akerlof, Michael Spence and Joseph Stiglitz ten years later. This second wave of research, that came to be called the "new Economics of Information" adhered to Stigler's assumptions, but examined consequences of asymmetric Information -- i.e., the fact that interacting individuals often possess different Information sets. In this talk I will discuss my research on four phenomena that are key to the Information age that don't fit neatly into either wave of economic research on Information: curiosity (the desire for Information for its own sake), privacy (the desire to withhold Information), Information avoidance (a phenomenon that Stigler's theory explicitly ruled out), and the desire to share Information. The last of these topics is most relevant to recommender systems, so I will devote special attention to it, discussing some of the fundamental motives that drive people to share Information.

  • RecSys - Recommender Systems and the New New Economics of Information
    Proceedings of the Eleventh ACM Conference on Recommender Systems, 2017
    Co-Authors: George Loewenstein
    Abstract:

    George Stigler pioneered the Economics of Information in the 1960s with his observation that Information is a scarce and valuable commodity. Stigler assumed people value Information to the extent, and only to the extent, that it helps them to make better decisions, and that people update their beliefs rationally, in response to new Information. Stigler won the Nobel prize for his contribution, as did three economists, George Akerlof, Michael Spence and Joseph Stiglitz ten years later. This second wave of research, that came to be called the "new Economics of Information" adhered to Stigler's assumptions, but examined consequences of asymmetric Information -- i.e., the fact that interacting individuals often possess different Information sets. In this talk I will discuss my research on four phenomena that are key to the Information age that don't fit neatly into either wave of economic research on Information: curiosity (the desire for Information for its own sake), privacy (the desire to withhold Information), Information avoidance (a phenomenon that Stigler's theory explicitly ruled out), and the desire to share Information. The last of these topics is most relevant to recommender systems, so I will devote special attention to it, discussing some of the fundamental motives that drive people to share Information.

Tim Wu - One of the best experts on this subject based on the ideXlab platform.

  • Law and Economics of Information
    The Oxford Handbook of Law and Economics, 2017
    Co-Authors: Tim Wu
    Abstract:

    Information is of enormous importance to contemporary Economics, science, and technology. Since the 1970s, economists and legal scholars, relying on a simplified “public good” model of Information, have constructed an impressively extensive body of scholarship devoted to the relationship between law and Information. The public good model tends to justify law, such as the intellectual property laws or various forms of securities regulation that seek to incentivize the production of Information or its broader dissemination. This chapter reviews the public choice model and identifies two recent trends. First, scholars have extended the public good model of Information to an ever-increasing number of fields where law and Information intersect. Second, scholars have sharply questioned the simplified model, and ask whether, in practice, Information actually has the characteristics of a public good.

  • an introduction to the law Economics of Information
    2016
    Co-Authors: Tim Wu
    Abstract:

    This paper reviews the literature related to the properties of Information and legal implications of same, making three observations:First, scholars have extended a public good model of Information to an ever-increasing number of fields where law and Information intersect. An incomplete list includes intellectual property, securities regulation, contract theory, consumer protection, communications, and the study of free speech. Second, scholars have sharply questioned whether, in practice, Information actually has the characteristics of a public good. In particular, the claim that Information is intrinsically impossible to exclude non-payers from has no clear basis, a fact that potentially undermines theoretical support for some forms of government intervention. A closer look suggests that context, subject matter, and industry structure tends to yield great variation in how much intervention really is required to ensure adequate production or dissemination. This tends to support the existence of dynamic legal regimes attuned to differences in subject matter or perhaps industry structure. Third, the review questions if the public good concept, while well-established, ought really be the exclusive focus of the economic and legal understanding of Information. The article closes by considering other, less investigated, but potentially important, properties of Information that have not received as much scholarly attention.

  • An Introduction to the Law & Economics of Information
    SSRN Electronic Journal, 2016
    Co-Authors: Tim Wu
    Abstract:

    This paper reviews the literature related to the properties of Information and legal implications of same, making three observations:First, scholars have extended a public good model of Information to an ever-increasing number of fields where law and Information intersect. An incomplete list includes intellectual property, securities regulation, contract theory, consumer protection, communications, and the study of free speech. Second, scholars have sharply questioned whether, in practice, Information actually has the characteristics of a public good. In particular, the claim that Information is intrinsically impossible to exclude non-payers from has no clear basis, a fact that potentially undermines theoretical support for some forms of government intervention. A closer look suggests that context, subject matter, and industry structure tends to yield great variation in how much intervention really is required to ensure adequate production or dissemination. This tends to support the existence of dynamic legal regimes attuned to differences in subject matter or perhaps industry structure. Third, the review questions if the public good concept, while well-established, ought really be the exclusive focus of the economic and legal understanding of Information. The article closes by considering other, less investigated, but potentially important, properties of Information that have not received as much scholarly attention.

Tyler Moore - One of the best experts on this subject based on the ideXlab platform.

  • Economics of Information Security and Privacy - Economics of Information Security and Privacy
    2014
    Co-Authors: Tyler Moore, Christos Ioannidis
    Abstract:

    The Workshop on the Economics of Information Security was established in 2002 to bring together computer scientists and economists to understand and improve the poor state of Information security practice. WEIS was borne out of a realization that security often fails for non-technical reasons. Rather, the incentives of both - fender and attacker must be considered. Earlier workshops have answered questions ranging from?nding optimal levels of security investement to understanding why privacy has been eroded. In the process, WEIS has attracted participation from the diverse?elds such as law, management and psychology. WEIS has now established itself as the leading forum for interdisciplinary scholarship on Information security. The eigth installment of the conference returned to the United Kingdom, hosted byUniversityCollegeLondononJune24-25,2009.Approximately100researchers, practitioners and government of?cials from across the globe convened in London to hear presentations from authors of 21 peer-reviewed papers, in addition to a panel and keynote lectures from Hal Varian (Google), Bruce Schneier (BT Co- terpane), Martin Sadler (HP Labs), and Robert Coles (Merrill Lynch). Angela Sasse and David Pym chaired the conference, while Christos Ioannidis and Tyler Moore chaired the program committee.

  • Economics of Information security and privacy
    eois, 2014
    Co-Authors: Tyler Moore, Christos Ioannidis
    Abstract:

    The Workshop on the Economics of Information Security was established in 2002 to bring together computer scientists and economists to understand and improve the poor state of Information security practice. WEIS was borne out of a realization that security often fails for non-technical reasons. Rather, the incentives of both - fender and attacker must be considered. Earlier workshops have answered questions ranging from?nding optimal levels of security investement to understanding why privacy has been eroded. In the process, WEIS has attracted participation from the diverse?elds such as law, management and psychology. WEIS has now established itself as the leading forum for interdisciplinary scholarship on Information security. The eigth installment of the conference returned to the United Kingdom, hosted byUniversityCollegeLondononJune24-25,2009.Approximately100researchers, practitioners and government of?cials from across the globe convened in London to hear presentations from authors of 21 peer-reviewed papers, in addition to a panel and keynote lectures from Hal Varian (Google), Bruce Schneier (BT Co- terpane), Martin Sadler (HP Labs), and Robert Coles (Merrill Lynch). Angela Sasse and David Pym chaired the conference, while Christos Ioannidis and Tyler Moore chaired the program committee.

  • the Economics of Information security
    Science, 2006
    Co-Authors: Ross Anderson, Tyler Moore
    Abstract:

    The Economics of Information security has recently become a thriving and fast-moving discipline. As distributed systems are assembled from machines belonging to principals with divergent interests, we find that incentives are becoming as important as technical design in achieving dependability. The new field provides valuable insights not just into “security” topics (such as bugs, spam, phishing, and law enforcement strategy) but into more general areas such as the design of peer-to-peer systems, the optimal balance of effort by programmers and testers, why privacy gets eroded, and the politics of digital rights management.

  • The Economics of Information security
    Science, 2006
    Co-Authors: Ross Anderson, Tyler Moore
    Abstract:

    The Economics of Information security is an emerging area of study. The Economics of Information security is cross-disciplinary as much as interdisciplinary. Economics of Information security is the explicit combination of primary disciplines. Economics of Informations security has the potential to inform security from policy and Economics perspectives. Following its now confirmed tradition of cross-disciplinary publication, Economics of Information security is unified as an intellectual endeavor by a series of workshops. The best from those workshops develops into journal special issues and texts. This works reviews the organization and findings of Economics of Information security.