Time Inconsistency, Behavioural Economics and Privacy
A question that occupies a lot of our time in the office is why, despite growing research that clearly shows that privacy is important to Canadians, do many of us give out our personal information to anyone who asks? While we know privacy is important to people, they still trade personal information for just about anything – from a “free” service to a chance to win something. Why does what we say is important to us often not translate to our observable behaviour? Where does this disconnect happen?
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