Information privacyInformation privacy is the relationship between the collection and dissemination of data, technology, the public expectation of privacy, contextual information norms, and the legal and political issues surrounding them. It is also known as data privacy or data protection. Data privacy is challenging since attempts to use data while protecting an individual's privacy preferences and personally identifiable information. The fields of computer security, data security, and information security all design and use software, hardware, and human resources to address this issue.
Information asymmetryIn contract theory and economics, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. Information asymmetry creates an imbalance of power in transactions, which can sometimes cause the transactions to be inefficient, causing market failure in the worst case. Examples of this problem are adverse selection, moral hazard, and monopolies of knowledge. A common way to visualise information asymmetry is with a scale, with one side being the seller and the other the buyer.
Location-based serviceA location-based service (LBS) is a general term denoting software services which use geographic data and information to provide services or information to users. LBS can be used in a variety of contexts, such as health, indoor object search, entertainment, work, personal life, etc. Commonly used examples of location based services include navigation software, social networking services, location-based advertising, and tracking systems. LBS can also include mobile commerce when taking the form of coupons or advertising directed at customers based on their current location.
Perfect informationIn economics, perfect information (sometimes referred to as "no hidden information") is a feature of perfect competition. With perfect information in a market, all consumers and producers have complete and instantaneous knowledge of all market prices, their own utility, and own cost functions. In game theory, a sequential game has perfect information if each player, when making any decision, is perfectly informed of all the events that have previously occurred, including the "initialization event" of the game (e.
Cooperative game theoryIn game theory, a cooperative game (or coalitional game) is a game with competition between groups of players ("coalitions") due to the possibility of external enforcement of cooperative behavior (e.g. through contract law). Those are opposed to non-cooperative games in which there is either no possibility to forge alliances or all agreements need to be self-enforcing (e.g. through credible threats). Cooperative games are often analysed through the framework of cooperative game theory, which focuses on predicting which coalitions will form, the joint actions that groups take and the resulting collective payoffs.
Privacy concerns with social networking servicesSince the arrival of early social networking sites in the early 2000s, online social networking platforms have expanded exponentially, with the biggest names in social media in the mid-2010s being Facebook, Instagram, Twitter and Snapchat. The massive influx of personal information that has become available online and stored in the cloud has put user privacy at the forefront of discussion regarding the database's ability to safely store such personal information.
Extensive-form gameIn game theory, an extensive-form game is a specification of a game allowing (as the name suggests) for the explicit representation of a number of key aspects, like the sequencing of players' possible moves, their choices at every decision point, the (possibly imperfect) information each player has about the other player's moves when they make a decision, and their payoffs for all possible game outcomes. Extensive-form games also allow for the representation of incomplete information in the form of chance events modeled as "moves by nature".
Repeated gameIn game theory, a repeated game is an extensive form game that consists of a number of repetitions of some base game (called a stage game). The stage game is usually one of the well-studied 2-person games. Repeated games capture the idea that a player will have to take into account the impact of their current action on the future actions of other players; this impact is sometimes called their reputation. Single stage game or single shot game are names for non-repeated games.
Chicken (game)The game of chicken, also known as the hawk–dove game or snowdrift game, is a model of conflict for two players in game theory. The principle of the game is that while the ideal outcome is for one player to yield (to avoid the worst outcome if neither yields), the individuals try to avoid it out of pride for not wanting to look like a "chicken". Each player taunts the other to increase the risk of shame in yielding. However, when one player yields, the conflict is avoided, and the game is for the most part over.
Information economicsInformation economics or the economics of information is the branch of microeconomics that studies how information and information systems affect an economy and economic decisions. One application considers information embodied in certain types of commodities that are "expensive to produce but cheap to reproduce." Examples include computer software (e.g., Microsoft Windows), pharmaceuticals, and technical books. Once information is recorded "on paper, in a computer, or on a compact disc, it can be reproduced and used by a second person essentially for free.
