The Economics of Privacy: A Primer Especially for Policymakers

Yosuke Uno, Akira Sonoda and Masaki Bessho
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Yosuke Uno: Bank of Japan
Akira Sonoda: Bank of Japan
Masaki Bessho: Bank of Japan

No 21-E-11, Bank of Japan Working Paper Series from Bank of Japan

Abstract: This paper presents a survey of a field called the economics of privacy. Reflecting growing concerns worldwide about the handling of personal data on the Internet, the economics of privacy is developing rapidly, coinciding with recent efforts by privacy regulators to tighten regulations. The literature argues that it is difficult for market mechanisms to resolve problems such as how to determine the socially optimal level of privacy protection and how to avoid excessive privacy loss driven by negative data externalities. These insights should be useful for policymakers facing the question of how to deal with personal data issues and to ensure that people's privacy is protected.

JEL-codes: D62 D82 D83 K20 M31 M37 (search for similar items in EconPapers)
Date: 2021-08-06
New Economics Papers: this item is included in nep-isf and nep-reg
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