Using novel and large-scale data at the individual level, we find that an author publishes more articles when a coauthor joins an editorial board, both in the "coauthor's'" journal and in other journals. This effect is larger, the less experienced the author is, and disappears quickly once the coauthor leaves the journal's board. Of the hypotheses that we consider to explain these patterns, the signalling hypothesis is a strong contender. It argues that the temporary increase in status of the coauthor improves the plight of the author as it improves the inference that editorial boards make about the author's underlying quality. Only the favoritism hypothesis can explain that, especially at journals with low board turnover, articles published during a coauthor's stint on the editorial board receive less citations than articles published during other years.
{"title":"When a Coauthor Joins an Editorial Board","authors":"Lorenzo Ductor, B. Visser","doi":"10.2139/ssrn.3847685","DOIUrl":"https://doi.org/10.2139/ssrn.3847685","url":null,"abstract":"Using novel and large-scale data at the individual level, we find that an author publishes more articles when a coauthor joins an editorial board, both in the \"coauthor's'\" journal and in other journals. This effect is larger, the less experienced the author is, and disappears quickly once the coauthor leaves the journal's board. Of the hypotheses that we consider to explain these patterns, the signalling hypothesis is a strong contender. It argues that the temporary increase in status of the coauthor improves the plight of the author as it improves the inference that editorial boards make about the author's underlying quality. Only the favoritism hypothesis can explain that, especially at journals with low board turnover, articles published during a coauthor's stint on the editorial board receive less citations than articles published during other years.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125552012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Children tend to inherit their parents’ social class through the types of jobs they get. However, digital technologies are now transforming the way labour markets work. Candidates are increasingly screened using algorithmic decision making. Skills are validated with online tests and customer feedback ratings. Workplace communications take place over digital media. Could these transformations be undermining the advantages that have accrued to workers with posh accents, family connections, and expensively acquired educational qualifications? We examine this question with survey data from the online (remote) platform economy, a labour market segment in which these digital transformations have progressed furthest (N = 983). The results reveal that online platform workers come largely from privileged class backgrounds. Class also influences (via education) what types of online occupations workers do, from professional services to data entry. However, class background has surprisingly little influence on job quality, which is instead shaped by individual digital metrics such as feedback ratings. These findings cannot be fully reconciled with theories of a shift towards meritocracy nor with theories of a persisting influence of class origins. Instead, labour market digitalization may be decoupling inherited occupation from job quality.
{"title":"Can Labour Market Digitalization Increase Social Mobility? Evidence from a European Survey of Online Platform Workers","authors":"Nicholas Martindale, V. Lehdonvirta","doi":"10.2139/ssrn.3862635","DOIUrl":"https://doi.org/10.2139/ssrn.3862635","url":null,"abstract":"Children tend to inherit their parents’ social class through the types of jobs they get. However, digital technologies are now transforming the way labour markets work. Candidates are increasingly screened using algorithmic decision making. Skills are validated with online tests and customer feedback ratings. Workplace communications take place over digital media. Could these transformations be undermining the advantages that have accrued to workers with posh accents, family connections, and expensively acquired educational qualifications? We examine this question with survey data from the online (remote) platform economy, a labour market segment in which these digital transformations have progressed furthest (N = 983). The results reveal that online platform workers come largely from privileged class backgrounds. Class also influences (via education) what types of online occupations workers do, from professional services to data entry. However, class background has surprisingly little influence on job quality, which is instead shaped by individual digital metrics such as feedback ratings. These findings cannot be fully reconciled with theories of a shift towards meritocracy nor with theories of a persisting influence of class origins. Instead, labour market digitalization may be decoupling inherited occupation from job quality.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133886723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
How do inter-organizational networks emerge? Accounting for interdependence among ties while studying tie formation is one of the key challenges in this area of research. We address this challenge using an equilibrium framework where firms' decisions to form links with other firms are modeled as a strategic game. In this game, firms weigh the costs and benefits of establishing a relationship with other firms and form ties if their net payoffs are positive. We characterize the equilibrium networks as exponential random graphs (ERGM), and we estimate the firms' payoffs using a Bayesian approach. To demonstrate the usefulness of our approach, we apply the framework to a co-investment network of venture capital firms in the medical device industry. The equilibrium framework allows researchers to draw economic interpretation from parameter estimates of the ERGM Model. We learn that firms rely on their joint partners (transitivity) and prefer to form ties with firms similar to themselves (homophily). These results hold after controlling for the interdependence among ties. Another, critical advantage of a structural approach is that it allows us to simulate the effects of economic shocks or policy counterfactuals. We test two such policy shocks, namely, firm entry and regulatory change. We show how new firms' entry or a regulatory shock of minimum capital requirements increase the co-investment network's density and clustering.
{"title":"A Model of Inter-organizational Network Formation","authors":"S. Gaonkar, A. Mele","doi":"10.2139/ssrn.3838255","DOIUrl":"https://doi.org/10.2139/ssrn.3838255","url":null,"abstract":"How do inter-organizational networks emerge? Accounting for interdependence among ties while studying tie formation is one of the key challenges in this area of research. We address this challenge using an equilibrium framework where firms' decisions to form links with other firms are modeled as a strategic game. In this game, firms weigh the costs and benefits of establishing a relationship with other firms and form ties if their net payoffs are positive. We characterize the equilibrium networks as exponential random graphs (ERGM), and we estimate the firms' payoffs using a Bayesian approach. To demonstrate the usefulness of our approach, we apply the framework to a co-investment network of venture capital firms in the medical device industry. The equilibrium framework allows researchers to draw economic interpretation from parameter estimates of the ERGM Model. We learn that firms rely on their joint partners (transitivity) and prefer to form ties with firms similar to themselves (homophily). These results hold after controlling for the interdependence among ties. Another, critical advantage of a structural approach is that it allows us to simulate the effects of economic shocks or policy counterfactuals. We test two such policy shocks, namely, firm entry and regulatory change. We show how new firms' entry or a regulatory shock of minimum capital requirements increase the co-investment network's density and clustering.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134517646","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-04-27DOI: 10.21511/IM.17(2).2021.03
Kanyawee Pornsrimate, Anon Khamwon
Undoubtedly, in the modern age of digitalization, Millennials, who are considered digital natives, have become a massive target market for salespersons. Changes in the way Millennials think accompanied by an explosion of social media have led to an increased focus on social media influencer marketing in the company sector. To help establish a new marketing paradigm that accounts for these changes, this research aims to conceptualize and investigate the process of building consumer-brand relationships with Millennial consumers through social media micro-influencers. Findings based on structural equation modeling revealed that four core characteristics of social media micro-influencers (i.e., authenticity, the meaning of the influencer, specific content, and secret sharing) were a significant antecedent of brand engagement and brand love, which, in turn, mediated the pathway from social media micro-influencer characteristics to brand evangelism. Understanding what social media micro-influencers mean to Millennials offers the promise of improving brand evangelism through more precise market analysis and market strategy. In the discussion, the paper introduces a three-stage building method towards brand evangelism through social media micro-influencer, including: (1) the stage of selecting influencers; (2) the stage of constructing intense emotional responses to the brand (brand engagement and brand love); and ultimately (3) the stage of becoming a brand evangelist. Lastly, limitations and future directions were discussed.
{"title":"How To Convert Millennial Consumers to Brand Evangelists Through Social Media Micro-Influencers","authors":"Kanyawee Pornsrimate, Anon Khamwon","doi":"10.21511/IM.17(2).2021.03","DOIUrl":"https://doi.org/10.21511/IM.17(2).2021.03","url":null,"abstract":"Undoubtedly, in the modern age of digitalization, Millennials, who are considered digital natives, have become a massive target market for salespersons. Changes in the way Millennials think accompanied by an explosion of social media have led to an increased focus on social media influencer marketing in the company sector. To help establish a new marketing paradigm that accounts for these changes, this research aims to conceptualize and investigate the process of building consumer-brand relationships with Millennial consumers through social media micro-influencers. Findings based on structural equation modeling revealed that four core characteristics of social media micro-influencers (i.e., authenticity, the meaning of the influencer, specific content, and secret sharing) were a significant antecedent of brand engagement and brand love, which, in turn, mediated the pathway from social media micro-influencer characteristics to brand evangelism. Understanding what social media micro-influencers mean to Millennials offers the promise of improving brand evangelism through more precise market analysis and market strategy. In the discussion, the paper introduces a three-stage building method towards brand evangelism through social media micro-influencer, including: (1) the stage of selecting influencers; (2) the stage of constructing intense emotional responses to the brand (brand engagement and brand love); and ultimately (3) the stage of becoming a brand evangelist. Lastly, limitations and future directions were discussed.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125275963","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Platforms often use fee discrimination within their marketplace (e.g., Amazon, eBay, and Uber specify a variety of merchant fees). To better understand the impact of marketplace fee discrimination, we develop a model that allows us to determine equilibrium fee and category decisions that depend on the extent of fee discrimination available to the platform and we highlight how our fee discrimination strategies can be derived in practice using data from airbnb.com. In addition, we find that greater fee discrimination allows the platform to serve more markets in its marketplace but also increases fees in high surplus markets. However, if the platform enters into retail, then the platform reduces its fees and generates greater retail competition. These effects mitigate distortions from fee discrimination and improve welfare. In terms of policy, we show that (1) banning fee discrimination and platform entry is detrimental to welfare, (2) a vertical merger within a retail market mitigates fee distortions but is often worse than an equilibrium with platform entry into retail, and (3) taxing the platform in retail (not merchants) levels the retail playing field and can generate a Pareto improvement upon a policy that bans platform retail entry.
{"title":"The Limits of Marketplace Fee Discrimination","authors":"M. Tremblay","doi":"10.2139/ssrn.3729378","DOIUrl":"https://doi.org/10.2139/ssrn.3729378","url":null,"abstract":"Platforms often use fee discrimination within their marketplace (e.g., Amazon, eBay, and Uber specify a variety of merchant fees). To better understand the impact of marketplace fee discrimination, we develop a model that allows us to determine equilibrium fee and category decisions that depend on the extent of fee discrimination available to the platform and we highlight how our fee discrimination strategies can be derived in practice using data from airbnb.com. In addition, we find that greater fee discrimination allows the platform to serve more markets in its marketplace but also increases fees in high surplus markets. However, if the platform enters into retail, then the platform reduces its fees and generates greater retail competition. These effects mitigate distortions from fee discrimination and improve welfare. In terms of policy, we show that (1) banning fee discrimination and platform entry is detrimental to welfare, (2) a vertical merger within a retail market mitigates fee distortions but is often worse than an equilibrium with platform entry into retail, and (3) taxing the platform in retail (not merchants) levels the retail playing field and can generate a Pareto improvement upon a policy that bans platform retail entry.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130053735","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The recent mobile money innovation has experienced strong development and has been a key tool for financial inclusion in sub-Saharan Africa. Even holders of formal financial accounts have adopted it widely. Based on a sample of 6,891 households in the West African Economic and Monetary Union (WAEMU), we study complementarity between the use of mobile money and financial accounts. Our empirical results show that households generally perceive mobile money and financial accounts as substitutes. We also found that individuals for whom the two accounts are complementary have a high level of education and live in countries where formal financial and mobile money services are more accessible. Moreover, contrary to previous works, we show that among those holding two complementary accounts, almost 50% find that the formal financial account is a complement of mobile money. We attribute this preference to a very low use of financial services such as formal savings and borrowings in WAEMU.
{"title":"Are Mobile Money and Financial Accounts Complementary? Evidence from the WAEMU Region","authors":"G. A. Z. Gourène, Issouf Soumaré","doi":"10.2139/ssrn.3805905","DOIUrl":"https://doi.org/10.2139/ssrn.3805905","url":null,"abstract":"The recent mobile money innovation has experienced strong development and has been a key tool for financial inclusion in sub-Saharan Africa. Even holders of formal financial accounts have adopted it widely. Based on a sample of 6,891 households in the West African Economic and Monetary Union (WAEMU), we study complementarity between the use of mobile money and financial accounts. Our empirical results show that households generally perceive mobile money and financial accounts as substitutes. We also found that individuals for whom the two accounts are complementary have a high level of education and live in countries where formal financial and mobile money services are more accessible. Moreover, contrary to previous works, we show that among those holding two complementary accounts, almost 50% find that the formal financial account is a complement of mobile money. We attribute this preference to a very low use of financial services such as formal savings and borrowings in WAEMU.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123498831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines how online interaction between firm management and investors impacts stock price crash risk. Based on the previous literature, we postulate that online interaction constrains crash risk via two channels, i.e., deterring bad news hoarding activities of managers and decreasing differences of opinion among investors. Relying on the launch of Hudongyi (the first official investor relations management platform in the world) for identification, we demonstrate that online firm-investor interaction significantly reduces future crash risk and that these two channels can both explain this effect. Overall, our findings highlight the important role of online interaction in risk management.
{"title":"Does online interaction between firms and investors reduce stock price crash risk?","authors":"Wei Zhang, Yi Li, Pengfei Wang","doi":"10.2139/ssrn.3792171","DOIUrl":"https://doi.org/10.2139/ssrn.3792171","url":null,"abstract":"This paper examines how online interaction between firm management and investors impacts stock price crash risk. Based on the previous literature, we postulate that online interaction constrains crash risk via two channels, i.e., deterring bad news hoarding activities of managers and decreasing differences of opinion among investors. Relying on the launch of Hudongyi (the first official investor relations management platform in the world) for identification, we demonstrate that online firm-investor interaction significantly reduces future crash risk and that these two channels can both explain this effect. Overall, our findings highlight the important role of online interaction in risk management.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128604937","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper explores how social interactions among consumers shape markets. In a two-country model, consumers meet and exchange information about the quality of the goods. As information spreads, the demands evolve, affecting the prices and quantities manufactured by profit-maximizing firms. We show that market prices with informational frictions reach the duopoly price with full information, at the limit. However, this convergence can take two different paths depending on the size asymmetry between countries. In particular, when countries are of very different sizes, the single market does not immediately turn into a duopoly and monopoly prices may persist for several periods. Hence, the price-reducing trade effects may take longer to appear. In view of an intense globalization process, understanding how social meetings affect market outcomes is critical for understanding the performance of international economic integration.
{"title":"Random Encounters and Information Diffusion about Product Quality","authors":"J. Gabszewicz, Marco A. Marini, S. Zanaj","doi":"10.2139/ssrn.3801563","DOIUrl":"https://doi.org/10.2139/ssrn.3801563","url":null,"abstract":"This paper explores how social interactions among consumers shape markets. In a two-country model, consumers meet and exchange information about the quality of the goods. As information spreads, the demands evolve, affecting the prices and quantities manufactured by profit-maximizing firms. We show that market prices with informational frictions reach the duopoly price with full information, at the limit. However, this convergence can take two different paths depending on the size asymmetry between countries. In particular, when countries are of very different sizes, the single market does not immediately turn into a duopoly and monopoly prices may persist for several periods. Hence, the price-reducing trade effects may take longer to appear. In view of an intense globalization process, understanding how social meetings affect market outcomes is critical for understanding the performance of international economic integration.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125362941","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Y. Zaytsev, A. Abroskin, A. Knobel, Marina Turuntseva, Kniaz Bagdasaryan, V. Sedalishchev
This study is devoted to the development of approaches to the assessment of macroeconomic indicators, aggregate factor productivity, labor productivity, capital and other indicators in the conditions of digitalization of the national economy. The study applied a methodological framework based on the UN System of National Accounts (SNA 2008), European System of National Accounts (SNA 2010) and specialized developments of international organizations in the field of macroeconomic and digital economy statistics (OECD, IMF, World Bank, etc.). The work measured and accounted for the qualitative characteristics of new products with fundamentally new parameters that had not previously been observed or accounted for in other products. The application of the hedonic method to the data (on the example of the Moscow market) has shown that this method is able to produce results consistent with the conclusions of earlier works. The results of the study provide a comprehensive system for assessing the socio-economic effects of digitalization and its long-term consequences. It may serve as a basis for making economic forecasts in the field of digital economy in case of further implementation of economic policy in Russia.
{"title":"The Prospects for Accounting and Measurement of the Digital Economy Based on National Accounts Applications","authors":"Y. Zaytsev, A. Abroskin, A. Knobel, Marina Turuntseva, Kniaz Bagdasaryan, V. Sedalishchev","doi":"10.2139/ssrn.3779477","DOIUrl":"https://doi.org/10.2139/ssrn.3779477","url":null,"abstract":"This study is devoted to the development of approaches to the assessment of macroeconomic indicators, aggregate factor productivity, labor productivity, capital and other indicators in the conditions of digitalization of the national economy. The study applied a methodological framework based on the UN System of National Accounts (SNA 2008), European System of National Accounts (SNA 2010) and specialized developments of international organizations in the field of macroeconomic and digital economy statistics (OECD, IMF, World Bank, etc.). The work measured and accounted for the qualitative characteristics of new products with fundamentally new parameters that had not previously been observed or accounted for in other products. The application of the hedonic method to the data (on the example of the Moscow market) has shown that this method is able to produce results consistent with the conclusions of earlier works. The results of the study provide a comprehensive system for assessing the socio-economic effects of digitalization and its long-term consequences. It may serve as a basis for making economic forecasts in the field of digital economy in case of further implementation of economic policy in Russia.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"21 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115479872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The digital economy has become one of the most important sectors in global GDP.Personal data is the new asset class that creates value through the applications ofcybertechnologies and Artificial Intelligence. However, there are increasing concerns over the privacy invasions and human rights violations associated with the exploitation ofpersonal data.Various data laws were made in nations to balance the data fluidity and privacy protections. However, most laws have inherent limitations and underenforcement issuesthat fail to achieve their aims and protection principles. Utilizing a behavioral economics theoretical framework, this study categorizes the issues and causes to InformationAsymmetry, Bounded Rationality, Power Imbalance, and Technical Incapacity.The study makes a novel contribution by proposing a global data governance scheme to address the limitations of data laws. The scheme adopts a Libertarian Paternalism approach and develops seven principles in the framework design. Elements and components in the scheme include individuals, data controllers, privacy rating frameworks, meta-data and privacy configuration, reports, Automated Consent Management (ACM), Bureaus, and signatures, etc. The components will operate on an interoperable and global data management platform. Visual diagrams are developed to describe the various forms of interactions between components and procedures.A balance between privacy protection and data fluidity is found through experimental scenarios such as Ordinary Data Request, Sensitive Data Request, Inconsistency Checks, Data Rights Exercise, Monitored Data Transfer, Broadcast and Notice. The scenarios analyzed are not exhaustive but serve as the meaningful startingpoint to inspire more designs and discussions from scholars.
{"title":"A Novel Data Governance Scheme Based on the Behavioral Economics Theory","authors":"Bo Hou","doi":"10.2139/ssrn.3773565","DOIUrl":"https://doi.org/10.2139/ssrn.3773565","url":null,"abstract":"The digital economy has become one of the most important sectors in global GDP.Personal data is the new asset class that creates value through the applications ofcybertechnologies and Artificial Intelligence. However, there are increasing concerns over the privacy invasions and human rights violations associated with the exploitation ofpersonal data.Various data laws were made in nations to balance the data fluidity and privacy protections. However, most laws have inherent limitations and underenforcement issuesthat fail to achieve their aims and protection principles. Utilizing a behavioral economics theoretical framework, this study categorizes the issues and causes to InformationAsymmetry, Bounded Rationality, Power Imbalance, and Technical Incapacity.The study makes a novel contribution by proposing a global data governance scheme to address the limitations of data laws. The scheme adopts a Libertarian Paternalism approach and develops seven principles in the framework design. Elements and components in the scheme include individuals, data controllers, privacy rating frameworks, meta-data and privacy configuration, reports, Automated Consent Management (ACM), Bureaus, and signatures, etc. The components will operate on an interoperable and global data management platform. Visual diagrams are developed to describe the various forms of interactions between components and procedures.A balance between privacy protection and data fluidity is found through experimental scenarios such as Ordinary Data Request, Sensitive Data Request, Inconsistency Checks, Data Rights Exercise, Monitored Data Transfer, Broadcast and Notice. The scenarios analyzed are not exhaustive but serve as the meaningful startingpoint to inspire more designs and discussions from scholars.","PeriodicalId":319022,"journal":{"name":"Economics of Networks eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125751413","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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