{"title":"Big technology and data privacy","authors":"Martin J Conyon","doi":"10.1093/cje/beac052","DOIUrl":null,"url":null,"abstract":"This paper discusses big technology and data privacy. First, we show the rapid rise in technology firms since the millennium. Using Facebook as a case study (the most popular social network in 2022), we show its reliance on personally identifiable data collection and advertising. Second, we investigate the Cambridge Analytica data breach. We show that stock prices fall in response to the data breach using event study methods. Cumulative abnormal returns decline by about 9.8% in the event window. Third, we discuss policy options in response to data privacy concerns. The GDPR provides a legislative model for protecting individually identifiable data.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"297 ","pages":""},"PeriodicalIF":2.0000,"publicationDate":"2023-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Cambridge Journal of Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1093/cje/beac052","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
This paper discusses big technology and data privacy. First, we show the rapid rise in technology firms since the millennium. Using Facebook as a case study (the most popular social network in 2022), we show its reliance on personally identifiable data collection and advertising. Second, we investigate the Cambridge Analytica data breach. We show that stock prices fall in response to the data breach using event study methods. Cumulative abnormal returns decline by about 9.8% in the event window. Third, we discuss policy options in response to data privacy concerns. The GDPR provides a legislative model for protecting individually identifiable data.
期刊介绍：
The Cambridge Journal of Economics, founded in 1977 in the traditions of Marx, Keynes, Kalecki, Joan Robinson and Kaldor, provides a forum for theoretical, applied, policy and methodological research into social and economic issues. Its focus includes: •the organisation of social production and the distribution of its product •the causes and consequences of gender, ethnic, class and national inequities •inflation and unemployment •the changing forms and boundaries of markets and planning •uneven development and world market instability •globalisation and international integration.
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