By Nicola Jentzsch
This e-book offers the 1st in-depth research of the economics and law of economic privateness. it really is a world comparability of credits reporting platforms within the usa and in eu nations. at the theoretical point the booklet explains pageant in details markets, specifically in markets for items made up of hugely own and delicate details. It studies the microeconomics of data and privateness and discusses the industrial incentives to reveal or to hide info. The ebook additionally specializes in the associations of credits reporting, the background of credits reporting companies and the law of privateness and credits reporting on either side of the Atlantic in addition to across the world. ultimately, at the empirical point, it studies the microeconomic and power macroeconomic results of credits reporting within the credits markets of nations around the globe.
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Additional info for The Economics and Regulation of Financial Privacy: An International Comparison of Credit Reporting Systems (Contributions to Economics)
58 Bad financial management 12 Lack of information 26 Other 4 Note: Some of the numbers do not add up to 100 because multiple reasons could be cited. Source: Jentzsch and San Jose Riestra (2006) Altogether, it is obvious that markets for information goods are not strictly comparable to markets for common goods. Information has some special features that can create problems if it is traded like an economic good. The legal infrastructure for information sharing changes the property rights and therefore the character of a good.
It sometimes includes detailed statements about outstanding types of credit, amount of loan and repayments patterns as well as further information like employment and family history. The extent to which positive information is collected depends on the data protection acts in the individual countries. Such information might be either collected about individuals or companies. It is also called white information. The property right specification will probably reduce the amount of information in the market compared to a situation of unspecified property rights.
For Experian (the only publicly traded company) operating profits were in 2000 roughly US-$ 369 million and in 2003 approximately US-$ 470 million. 1 billion. Credit reporting agencies are information intermediaries that provide the vital information infrastructure in credit markets. They reduce asymmetric information and bundle information processing capabilities. Additionally, they realize scale and scope advantages and lower the costs that would arise if banks would have to search the information individually.
The Economics and Regulation of Financial Privacy: An International Comparison of Credit Reporting Systems (Contributions to Economics) by Nicola Jentzsch