Regulation and the Marketplace

5 Pages Posted: 24 Feb 2004 Last revised: 11 Jun 2013

See all articles by Karim Jamal

Karim Jamal

University of Alberta - Department of Accounting, Operations & Information Systems

Michael S. Maier

University of Alberta - Alberta School of Business

Shyam Sunder

Yale University - School of Management; Yale University - Cowles Foundation

Date Written: February 24, 2004

Abstract

Under what conditions is government regulation better at protecting market participants than private, evolving, market-driven protections? An intriguing answer to that question emerges if we examine a relatively unregulated area of market participant protection: e-commerce privacy. In the United States, the privacy of participants engaged in e-commerce is largely unregulated by government; instead, many commercial websites contract with third parties to establish privacy protection codes and certify to Web surfers that the Web sites adhere to those codes. In the United Kingdom, on the other hand, e-commerce privacy is a matter of government regulation and enforcement by an agency created for that purpose. An analysis of these two very different approaches to online privacy suggests that private protections perform as well as - and perhaps even better than - government-regulation.

Keywords: Regulation, privacy, privacy protection, internet, internet privacy, internet regulation, government regulation, regulation by markets

JEL Classification: L86, L59, L5, O34, O38

Suggested Citation

Jamal, Karim and Maier, Michael and Sunder, Shyam, Regulation and the Marketplace (February 24, 2004). Regulation Magazine, Vol. 26, Issue 4, pp. 38-41, 2004; University of Alberta School of Business Research Paper No. 2013-692; Yale ICF Working Paper No. 04-12 . Available at SSRN: https://ssrn.com/abstract=506022

Karim Jamal (Contact Author)

University of Alberta - Department of Accounting, Operations & Information Systems ( email )

Edmonton, Alberta T6G 2R6
Canada
780-492-5829 (Phone)
780-492-3325 (Fax)

Michael Maier

University of Alberta - Alberta School of Business ( email )

2-30C Business Building
Edmonton, Alberta T6G 2R6
Canada
7802481275 (Phone)

HOME PAGE: http://https://business.ualberta.ca/about/contact-us/school-directory/michael-maier

Shyam Sunder

Yale University - School of Management ( email )

165 Whitney Avenue
P.O. Box 208200
New Haven, CT 06520-8200
United States
203-432-6160 (Phone)

HOME PAGE: http://www.som.yale.edu/faculty/sunder/

Yale University - Cowles Foundation

Box 208281
New Haven, CT 06520-8281
United States

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