Key stakeholder perceived value’s influence on autonomous vehicles’ privacy and security governance – an evolutionary analysis based on the prospect theory

Chao Lu and Xiaohai Xin

Asia Pacific Journal of Innovation and Entrepreneurship, 2024, vol. 18, issue 2, 131-155

Abstract: Purpose - The promotion of autonomous vehicles introduces privacy and security risks, underscoring the pressing need for responsible innovation implementation. To more effectively address the societal risks posed by autonomous vehicles, considering collaborative engagement of key stakeholders is essential. This study aims to provide insights into the governance of potential privacy and security issues in the innovation of autonomous driving technology by analyzing the micro-level decision-making processes of various stakeholders. Design/methodology/approach - For this study, the authors use a nuanced approach, integrating key stakeholder theory, perceived value theory and prospect theory. The study constructs a model based on evolutionary game for the privacy and security governance mechanism of autonomous vehicles, involving enterprises, governments and consumers. Findings - The governance of privacy and security in autonomous driving technology is influenced by key stakeholders’ decision-making behaviors and pivotal factors such as perceived value factors. The study finds that the governmental is influenced to a lesser extent by the decisions of other stakeholders, and factors such as risk preference coefficient, which contribute to perceived value, have a more significant influence than appearance factors like participation costs. Research limitations/implications - This study lacks an investigation into the risk sensitivity of various stakeholders in different scenarios. Originality/value - The study delineates the roles and behaviors of key stakeholders and contributes valuable insights toward addressing pertinent risk concerns within the governance of autonomous vehicles. Through the study, the practical application of Responsible Innovation theory has been enriched, addressing the shortcomings in the analysis of micro-level processes within the framework of evolutionary game.

Keywords: Perceived value; Prospect theory; Responsible innovation; Key stakeholder; Autonomous vehicles; Evolutionary game (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:apjiep:apjie-12-2023-0242

DOI: 10.1108/APJIE-12-2023-0242

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