IDEAS home Printed from https://ideas.repec.org/h/wsi/wschap/9789811220470_0002.html
   My bibliography  Save this book chapter

Data Fiduciary in Order to Alleviate Principal–Agent Problems in the Artificial Big Data Age

In: Information for Efficient Decision Making Big Data, Blockchain and Relevance

Author

Listed:
  • Julia M. Puaschunder

Abstract

The classic principal–agent problem in political science and economics describes agency dilemmas or problems when one person, the agent, is put in a situation to make decisions on behalf of another entity, the principal. A dilemma occurs in situations when individual profit maximization or principal and agent are pitted against each other. This so-called moral hazard is emerging in the current artificial big data age, when big data reaping entities have to act on behalf of agents, who provide their data with trust in the principal’s integrity and responsible big data conduct. Yet, to this day, no data fiduciary has been clearly described and established to protect the agent from misusing the data. This paper introduces the agent’s predicament between utility derived from information sharing and dignity in privacy as well as hyper-hyperbolic discounting fallibilities to not clearly foresee what consequences information sharing can have over time and in groups. The principal’s predicament between secrecy and selling big data insights or using big data for manipulative purposes will be outlined. Finally, the paper draws a clear distinction between manipulation and nudging in relation to the potential social class division of those who nudge and those who are nudged.

Suggested Citation

  • Julia M. Puaschunder, 2020. "Data Fiduciary in Order to Alleviate Principal–Agent Problems in the Artificial Big Data Age," World Scientific Book Chapters, in: Kashi R Balachandran (ed.), Information for Efficient Decision Making Big Data, Blockchain and Relevance, chapter 2, pages 41-90, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811220470_0002
    as

    Download full text from publisher

    File URL: https://www.worldscientific.com/doi/pdf/10.1142/9789811220470_0002
    Download Restriction: Ebook Access is available upon purchase.
    File URL: https://www.worldscientific.com/doi/abs/10.1142/9789811220470_0002
    Download Restriction: Ebook Access is available upon purchase.
    ---><---

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

    Citations

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


    Cited by:

    1. Julia M. Puaschunder, 2020. "The Future of the City after COVID-19: Digitionalization, Preventism and Environmentalism," ConScienS Conference Proceedings 020jpm, Research Association for Interdisciplinary Studies.
    2. Julia M. Puaschunder, 2020. "From Homo Oeconomicus to Homo Praeventicus," Proceedings of the 19th International RAIS Conference, October 18-19, 2020 023jpm, Research Association for Interdisciplinary Studies.
    3. Julia M. Puaschunder & Martin Gelter & Siegfried Sharma, 2020. "COVID-19-Shock: Considerations on Socio-Technological, Legal, Corporate, Economic and Governance Changes and Trends," Proceedings of the 18th International RAIS Conference, August 17-18, 2020 011jpb, Research Association for Interdisciplinary Studies.
    4. Julia M. Puaschunder, 2020. "Didemoversity: The Core of Democracy at the Heart of the Modern University," Scientia Moralitas Conference Proceedings 006jpm, Research Association for Interdisciplinary Studies.

    More about this item

    Keywords

    Accounting; Decision Making; Economic Information; Stock Trading; Acquisitions; Mergers; Financing Reporting; Reliable Information; Company Decisions;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • A1 - General Economics and Teaching - - General Economics

    Statistics

    Access and download statistics

    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:wsi:wschap:9789811220470_0002. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscientific.com/page/worldscibooks .

    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.