IDEAS home Printed from https://ideas.repec.org/a/eee/teinso/v65y2021ics0160791x21000725.html
   My bibliography  Save this article

The ownership challenge in the Internet of things world

Author

Listed:
  • Raina, Ajay
  • Palaniswami, M.

Abstract

The products of the fourth industrial revolution will come in the Internet of Things (IoT) architecture. They will be unified cyber-physical entities. A fallout of this paradigm is that our orthodox conceptions of private property and ownership will come under stress in ways not experienced before. The rights and boundaries of ownership will become obfuscated and hard to demarcate in the IoT-world. In this paper, we explore these issues from historical and theoretical perspectives to speculate on possible institutional and policy arrangements to manage the challenge. Towards this end, we propose a threshold utility principle of ownership that can serve as the starting point of addressing the private property and ownership challenge in the emergent IoT world.

Suggested Citation

  • Raina, Ajay & Palaniswami, M., 2021. "The ownership challenge in the Internet of things world," Technology in Society, Elsevier, vol. 65(C).
    • Handle: RePEc:eee:teinso:v:65:y:2021:i:c:s0160791x21000725
    DOI: 10.1016/j.techsoc.2021.101597
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0160791X21000725
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techsoc.2021.101597?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    2. Aggarwal, Nitin & Albert, Leslie J. & Hill, Timothy R. & Rodan, Simon A., 2020. "Risk knowledge and concern as influences of purchase intention for internet of things devices," Technology in Society, Elsevier, vol. 62(C).
    3. Thomas W. Merrill & Henry E. Smith, 2011. "Making Coasean Property More Coasean," Journal of Law and Economics, University of Chicago Press, vol. 54(S4), pages 77-104.
    4. Cheryl, Barr-Kumarakulasinghe & Ng, Boon-Kwee & Wong, Chan-Yuan, 2021. "Governing the progress of internet-of-things: Ambivalence in the quest of technology exploitation and user rights protection," Technology in Society, Elsevier, vol. 64(C).
    5. Daniel B. Klein & John Robinson, 2011. "Property: A Bundle of Rights? Prologue to the Property Symposium," Econ Journal Watch, Econ Journal Watch, vol. 8(3), pages 193-204, September.
    6. Eric R. Claeys, 2011. "Bundle-of-Sticks Notions in Legal and Economic Scholarship," Econ Journal Watch, Econ Journal Watch, vol. 8(3), pages 205-214, September.
    7. Larissa Katz, 2011. "The Regulative Function of Property Rights," Econ Journal Watch, Econ Journal Watch, vol. 8(3), pages 236-246, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. German Blanco & Rajeev K. Goel & Rati Ram, 2023. "What drives the production and diffusion of mobile apps? An international investigation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(2), pages 828-838, March.
    2. Pal, Debajyoti & Zhang, Xiangmin & Siyal, Saeed, 2021. "Prohibitive factors to the acceptance of Internet of Things (IoT) technology in society: A smart-home context using a resistive modelling approach," Technology in Society, Elsevier, vol. 66(C).
    3. Hemphill, Thomas A. & Longstreet, Phil & Banerjee, Syagnik, 2022. "“Automotive repairs, data accessibility, and privacy and security challenges: A stakeholder analysis and proposed policy solutions”," Technology in Society, Elsevier, vol. 71(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rossi, Enrico, 2020. "Reconsidering the dual nature of property rights: personal property and capital in the law and economics of property rights," LSE Research Online Documents on Economics 105840, London School of Economics and Political Science, LSE Library.
    2. James Rycroft & John M. Luiz, 2018. "Homelessness, Property Rights, and Institutional Logics," Working Papers 750, Economic Research Southern Africa.
    3. Chris Garbers & Guangling Dave Liu, 2017. "Macroprudential policy and foreign interest rate shocks: A comparison of different instruments and regulatory regimes," Working Papers 719, Economic Research Southern Africa.
    4. Pal, Debajyoti & Zhang, Xiangmin & Siyal, Saeed, 2021. "Prohibitive factors to the acceptance of Internet of Things (IoT) technology in society: A smart-home context using a resistive modelling approach," Technology in Society, Elsevier, vol. 66(C).
    5. Paupini, Cristina & van der Zeeuw, Alex & Fiane Teigen, Helene, 2022. "Trust in the institution and privacy management of Internet of Things devices. A comparative case study of Dutch and Norwegian households," Technology in Society, Elsevier, vol. 70(C).
    6. Eric R. Claeys, 2011. "Bundle-of-Sticks Notions in Legal and Economic Scholarship," Econ Journal Watch, Econ Journal Watch, vol. 8(3), pages 205-214, September.
    7. Nan Guo & Edwin Hon Wan Chan & Esther Hiu Kwan Yung, 2020. "Alternative Governance Model for Historical Building Conservation in China: From Property Rights Perspective," Sustainability, MDPI, vol. 13(1), pages 1-16, December.
    8. Henry E. Smith, 2019. "Complexity and the Cathedral: making law and economics more Calabresian," European Journal of Law and Economics, Springer, vol. 48(1), pages 43-63, August.
    9. Steven G. Medema, 2020. "The Coase Theorem at Sixty," Journal of Economic Literature, American Economic Association, vol. 58(4), pages 1045-1128, December.
    10. Meramveliotakis, Giorgos, 2023. "Reciprocity principle and private property rights in land: Coasean world is neither neoclassical nor capitalist," Land Use Policy, Elsevier, vol. 135(C).
    11. Persson, Torsten & Tabellini, Guido, 2002. "Political economics and public finance," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 24, pages 1549-1659, Elsevier.
    12. Frans P. Vries & Nick Hanley, 2016. "Incentive-Based Policy Design for Pollution Control and Biodiversity Conservation: A Review," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 63(4), pages 687-702, April.
    13. George Tridimas & Stanley L. Winer, 2018. "On the Definition and Nature of Fiscal Coercion," Carleton Economic Papers 18-09, Carleton University, Department of Economics.
    14. Mario Jametti & Thomas von Ungern-Sternberg, 2005. "Assessing the Efficiency of an Insurance Provider—A Measurement Error Approach," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 30(1), pages 15-34, June.
    15. Stefan Ambec & Yann Kervinio, 2016. "Cooperative decision-making for the provision of a locally undesirable facility," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 46(1), pages 119-155, January.
    16. Kurtis Swope & Ryan Wielgus & Pamela Schmitt & John Cadigan, 2011. "Contracts, Behavior, and the Land-assembly Problem: An Experimental Study," Research in Experimental Economics, in: Experiments on Energy, the Environment, and Sustainability, pages 151-180, Emerald Group Publishing Limited.
    17. Ralph E. Townsend, 2010. "Transactions costs as an obstacle to fisheries self-governance in New Zealand," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 301-320, July.
    18. Simon Levin & Anastasios Xepapadeas, 2021. "On the Coevolution of Economic and Ecological Systems," Annual Review of Resource Economics, Annual Reviews, vol. 13(1), pages 355-377, October.
    19. Karsten Neuhoff, 2002. "Optimal congestion treatment for bilateral electricity trading," Working Papers EP05, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    20. Maximiliano Marzetti & Rok Spruk, 2023. "Long-Term Economic Effects of Populist Legal Reforms: Evidence from Argentina," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(1), pages 60-95, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:teinso:v:65:y:2021:i:c:s0160791x21000725. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/technology-in-society .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.