We examine a potential path to value-creation by cybersecurity investments: a reduction in a firm's cost of capital. Building on the existing literature on corporate finance, we suggest that given the business-ending threats of cybersecurity incidents and the importance of cybersecurity...

Users of social, economic, or medical networks share personal information in exchange for tangible benefits, but may be harmed by leakage and misuse of the shared information. I analyze the effect of enhancing privacy in the presence of two opposing forces: network effects and informational...

This work develops an abstract, theory-founded understanding of organization-internal infor­mation security. For this purpose, established knowledge from the field of information security is restructured on the basis of two different dimensions: The historical dimension distinguishes three...

This paper presents a complete, choice-based, axiomatic Bayesian decision theory. It introduces a new choice set consisting of information-contingent plans for choosing actions and bets and subjective expected utility model with effect-dependent utility functions and action-dependent subjective...

We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of preferences over menus of acts. The most general...

Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review...

This Article argues that information gaps—pockets of information that are pertinent and knowable but not currently known—are a byproduct of shadow banking and a meaningful source of systemic risk. It lays the foundation for this claim by juxtaposing the regulatory regime governing the shadow...

Why do lawyers in some jurisdictions continue to ‘automatically’ exclude the 1980 UN Convention on Contracts for the International Sale of Goods (CISG) in their choices of law for international sales contracts? Why do lawyers in other jurisdictions approach the decision very differently? Why...

We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of preferences over menus of acts. One representation...