Game Theory-Based Trade-Off Analysis for Privacy and Openness in Decision Making by Controlling Quantity of Information

Mohd Anuaruddin Bin Ahmadon, Shingo Yamaguchi, Alireza Jolfaei

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Privacy has long been considered a fundamental component of consumer services. Privacy decreases the possibility of consumers revealing confidential information in terms of customer service. However, it also refers to service pleasure, flexibility, and convenience. This study formally analyzes the trade-off between privacy and openness in financial services. Because if the consumer favors privacy above openness, they may have limited freedom in the service provider's service, and vice versa. As a result, it is critical to choose the optimum solution to balance the trade-off. In this paper, we used the bilateral conflict concept to analyze the trade-off problem to achieve Nash equilibrium by controlling the quantity of information. We demonstrated that Nash equilibrium can be reached if two requirements are satisfied: (i) there is inequality in benefits for both the information owner and the decision maker, and (ii) there is inequality in benefits just for the information owner.

Original languageEnglish
Title of host publicationProceedings - 2023 IEEE 22nd International Conference on Trust, Security and Privacy in Computing and Communications
Subtitle of host publicationTrustCom/BigDataSE/CSE/EUC/iSCI 2023
EditorsJia Hu, Geyong Min, Guojun Wang, Nektarios Georgalas
Place of PublicationUnited States
PublisherInstitute of Electrical and Electronics Engineers
Pages1853-1858
Number of pages6
ISBN (Electronic)979-8-3503-8199-3
ISBN (Print)979-8-3503-8200-6
DOIs
Publication statusPublished - 29 May 2024
Event22nd IEEE International Conference on Trust, Security and Privacy in Computing and Communications - Exeter, United Kingdom
Duration: 1 Nov 20233 Nov 2023

Publication series

NameInternational Conference on Trust, Security and Privacy in Computing and Communications
PublisherInstitute of Electrical and Electronics Engineers
Volume2023
ISSN (Print)2324-898X
ISSN (Electronic)2324-9013

Conference

Conference22nd IEEE International Conference on Trust, Security and Privacy in Computing and Communications
Abbreviated titleTrustCom 2023
Country/TerritoryUnited Kingdom
CityExeter
Period1/11/233/11/23

Keywords

  • Data privacy
  • decision-making
  • game theory
  • Nash equilibrium
  • openness
  • trade-off

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