Have a personal or library account? Click to login
CBDC and Trust in A Central Bank: Transitivity Of Preferences Vs. The Privacy Paradox Cover

CBDC and Trust in A Central Bank: Transitivity Of Preferences Vs. The Privacy Paradox

Open Access
|Dec 2024

References

  1. Abramova, S., Böhme, R., Elsinger, H., Stix, H. & Summer, M. (2022). What can CBDC designers learn from asking potential users? Results from a survey of Austrian residents. Oesterreichische Nationalbank Working Paper, 241, 1-45.
  2. Acquisti, A. & Grossklags, J. (2005). Privacy and rationality in individual decision making. IEEE Security & Privacy, 3(1), 26-33.
  3. Acquisti, A. (2004). Privacy in electronic commerce and the economics of immediate gratification. EC ’04 Proceedings of the 5th ACM Conference on Electronic Commerce, 21-29, New York.
  4. Acquisti, A., Taylor, C. & Wagman, L. (2016). The Economics of privacy. Journal of Economic Literature, 54(2), 442-492.
  5. Agur, I., Ari, A. & Dell’Ariccia, G. (2022). Designing central bank digital currencies. Journal of Monetary Economics, 125, 62-79.
  6. Ahmed, A.M. & Salas, O. (2009). The relationship between behavioral and attitudinal trust: a cross-cultural study. Review of Social Economy, 67(4), 457-482.
  7. Ahnert, T., Assenmacher, K., Hoffmann, P., Leonello, A., Monnet, C. & Porcellacchia D. (2022). The economics of central bank digital currency. ECB Working Paper, 2713, 1-52.
  8. Ahnert, T., Hoffmann, P. & Monnet, C. (2022). The digital economy, privacy, and CBDC. ECB Working Paper, 2662, 1-52.
  9. Armantier, O., Doerr, S., Frost, J., Fuster, A. & Shue, K. (2021). Whom do consumers trust with their data? US survey evidence. BIS Bulletin, 42, 1-9.
  10. Athey, S., Catalini, C. & Tucker, C. (2017). The digital privacy paradox: small money, small costs, small talk. NBER Working Paper, 23488, 1-34.
  11. Auer, R., Bohme, R., Clark, J. & Demirag D. (2023). Mapping the privacy landscape for central bank digital currencies. Communications of the ACM, 66(3), 46-53.
  12. Ballaschk, D. & Paulick, J. (2021). The public, the private and the secret: thoughts on privacy in central bank digital currencies. Journal of Payments Strategy & Systems, 15(3), 277–286.
  13. Bank of England (2020). Central Bank Digital Currency: Opportunities, Challenges, and Designs. Bank of England Discussion Paper. https://www.bankofengland.co.uk/paper/2020/central-bank-digital-currency-opportunities-challenges-and-design-discussion-paper (Accessed: 18.07.2024).
  14. Barnes, S. (2006). A privacy paradox: social networking in the United States. First Monday, 11(9), 1-25.
  15. Barth, S., De Jong, M., Junger, M., Hartel, P. & Roppelt J. (2019). Putting the privacy paradox to the test: online privacy and security behaviors among users with technical knowledge, privacy awareness, and financial resources. Telematic and Informatics, 41, 55-69.
  16. Barth, S., Menno, D. & de Jong, M.D.T. (2017). The privacy paradox – investigating discrepancies between expressed privacy concerns and actual online behavior – a systematic literature review. Telematics and Informatics, 34, 1038-1058.
  17. Bijlsma, M., van der Cruijsen, C., Jonker, N. & Reijerink, J. (2021). What triggers consumer adoption of CBDC? De Nederlandsche Bank Working Paper, 709, 1-33.
  18. Bordo, M. & Siklos, P. (2015). Central banks credibility: historical and quantitative exploration. NBER Working Paper, 20824, 1-95.
  19. Borgonovo, E., Caselli, S., Cillo, A., Masciandaro, D. & Rabitti, G. (2021). Money, privacy, anonymity: what do experiments tell us? Journal of Financial Stability, 56, 1-18.
  20. Brits, H. & Jonker, N. (2023). The use of financial apps: privacy paradox or privacycalculus? De Nederlandsche Bank Working Paper, 794, 1-46.
  21. Brunnermeier, M., James, H. & Landau, J.P. (2019). The digitalization of money. NBER Working Paper, 26300, 1-32.
  22. Chen, L., Huang, Y., Ouyang, S. & Xiong, W. (2021). The data privacy paradox and digital demand. NBER Working Paper, 1-55.
  23. Choi, S., Kim, B., Kim, Y.-S. & Kwon, O. (2023). Central bank digital currency and privacy: a randomized survey experiment. BIS Working Paper, 1147, 1-61.
  24. Cloos, J., Frank, B., Kampenhuber, L., Karam, S., Luong, N., Moller, D., Monge-Larrain, M., Tan Dat, N., Nilgen, M. & Rossler, Ch. (2019). Is your privacy for sale? An experiment on the willingness to reveal sensitive information. Games, 10(3), 28-43.
  25. Cruijsen, C. (2020). Payment’s data: do consumers want banks to keep them in a safe or turn them into gold? Applied Economics, 52(6), 609-622.
  26. Culnan, M. & Armstrong, P. (1999). Information privacy concerns, procedural fairness, and impersonal trust: An empirical investigation. Organizational Science, 10(1), 340-347.
  27. Dincer, N. & Eichengreen B. (2014). Central bank transparency and independence: updates and new measures. International Journal of Central Banking, 10(1), 189-253.
  28. ECB (2019). Exploring anonymity in central bank digital currencies. Focus, 4, 1-11.
  29. ECB (2021). Digital euro: experimentation, scope and key learnings. Technical report, 1-9, ECB, Frankfurt am Main.
  30. ECB (2021). Euro system report on the public consultation on a digital euro. Consultation report, 1-39, ECB, Frankfurt am Main.
  31. Garratt, R.J. & van Oordt, M.R.C. (2021). Privacy as a public good: a case for electronic cash. Journal of Political Economy, 129(7), 2157-2180.
  32. Gerber, N., Gerber, P. & Volkamer, M. (2018). Explaining the privacy paradox: a systematic review of literature investigating privacy attitude and behavior. Computers and Security, 77, 226-261.
  33. Gimpel, H., Kleindienst, D. & Waldmann, D. (2018). The disclosure of private data: measuring the privacy paradox in digital services. Electronic Markets, 28, 475-490.
  34. Goldfarb, A. & Que, V. (2023). The economics of digital privacy. Annual Review of Economics, 15, 267-286.
  35. Hirschprung, R. (2023). Is the privacy paradox a domain-specific phenomenon. Computers, 12(156), 1-14.
  36. Jiang, J. (2020). CBDC adoption and usage: some insights from field and laboratory experiments. Bank of Canda Staff Analytical Note, 12, 1-12.
  37. Kahn, Ch., McAndrews, J. & Roberds, W. (2005). Money is privacy. International Economic Review, 46(2), 377-399.
  38. Kantar Public Survey (2022). Study on new digital payment methods. Kantar Public – Commissioned by the European Central Bank. https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse/shared/pdf/ecb.dedocs220330_annex_summary.en.pdf (Accessed: 18.07.2024).
  39. Kokolakis, S. (2017). Privacy attitudes and privacy behavior: a review of current research on the privacy paradox phenomenon. Computer & Security, 64, 122-134.
  40. Koziuk, V. & Ivashuk, Y. (2022). Does it matter for CBDC design? Privacy-anonymity preferences from the side of hierarchies and egalitarian cultural patterns. ECONOMICS - Innovative and Economics Research Journal, 10(1), 35-53.
  41. Koziuk, V., Ivashuk, Y. & Hayda, Y. (2024). CBDC, trust in the central bank, and the privacy paradox. ECONOMICS – Innovative and Economics Research Journal, 12(2), 219-242.
  42. Koziuk, V. (2021). Confidence in digital money: are central banks more trusted than age is matter? Investment Management and Financial Innovations, 18(1), 12-32.
  43. Koziuk, V. (2021). Willingness to adopt digital currency: whether central bank independence is important. Finance of Ukraine, 3, 7-22.
  44. Koziuk, V. (2022). What do cross-country Bitcoin holdings tell us? Monetary and institutional discontent vs financial development. Investment Management and Financial Innovations, 19(1), 168-185.
  45. Masciandaro, D. (2018). Central bank digital cash and cryptocurrencies: insights from Baumol-Friedman demand for money. Australia Economic Review, 51, 1-11.
  46. McKnight, D.M. & Chervany, N.L. (2001). Trust and distrust definitions: one bite at a time. In: Falcone, R., Singh, M. & Tan, Y.-H. (Eds.). Trust in Cyber-societies. Springer-Verlag Berlin Heidelberg, LNAI 2246, 27-54.
  47. Norberg, P., Horne, D. & Horne, D. (2007). The privacy paradox: personal information disclosure intentions versus behaviors. Journal of Consumer Affairs, 41(1), 100-126.
  48. Pfister, Сh. & de Seze, N. (2023). Who needs an e-yuan? SUERF Policy Brief, 716, 1–7.
  49. Rosati, P., Fox, G., Cummins, M. & Lynn, T. (2022). Perceived risk as a determinant of propensity to adopt account information services under the EU payment services directive. Journal of Theoretical and Applied Electronic Commerce Research, 17, 493-506.
  50. Schomakers, E.-V., Lidynia, C. & Ziefle, M. (2019). A typology of online privacy personalities. Journal of Grid Computing, 17, 727-747.
  51. Solove, D.J. (2021). The myth of the privacy paradox. George Washington Law Review, 89(1), 1–51.
  52. Suslenko, V., Zatonatska, T., Dluhopolskyi, O. & Kuznyetsova, A. (2022). Use of crypto-currencies Bitcoin and Ethereum in the field of e-commerce: case study of Ukraine. Financial and credit activity: problems of theory and practice, 1(42), 62-72.
  53. Syngjoo, Ch., Bongseob, K., Young-Sik, K. & Ohik, K. (2023). Central bank digital currency and privacy: a randomized survey experiment. BIS Working Papers, 1147, 1-61.
  54. Tsang, Ch.-U., Yang, A. & Chen, P.-K. (2023). Disciplining CBDC: addressing the privacy aspects and central bank independence. Northwestern Journal of International Law and Business, 43(3), 235-289.
  55. UK Parliament (2023). Central bank digital currency: solution in search of a problem. 3rd Report on Session 2021-2022, 52, p. 1-87.
  56. Waldman, A.E. (2018). Privacy as trust. Information privacy for information age. Cambridge University Press. Cambridge.
  57. World Economic Forum (2021). Privacy and Confidentiality of Central Bank Digital Currency. White Paper, 1–21.
  58. Zatonatska, T., Suslenko, V., Dluhopolskyi, O., Brych, V. & Dluhopolska, T. (2022). Investment models on centralized and decentralized cryptocurrency markets. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, 1, 177-182.
Language: English
Page range: 32 - 47
Submitted on: Jul 18, 2024
Accepted on: Oct 10, 2024
Published on: Dec 17, 2024
Published by: University of Information Technology and Management in Rzeszow
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2024 Viktor Koziuk, Yurii Ivashuk, Yurii Hayda, Oleksandr Dluhopolskyi, published by University of Information Technology and Management in Rzeszow
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.