Third-Party Data Providers Ruin Simple Mechanisms

Motivated by the growing prominence of third-party data providers in online marketplaces, this paper studies the impact of the presence of third-party data providers on mechanism design. When no data provider is present, it has been shown that simple mechanisms are "good enough" -- they can achieve a constant fraction of the revenue of optimal mechanisms. The results in this paper demonstrate that this is no longer true in the presence of a third-party data provider who can provide the bidder with a signal that is correlated with the item type. Specifically, even with a single seller, a single bidder, and a single item of uncertain type for sale, the strategies of pricing each item-type separately (the analog of item pricing for multi-item auctions) and bundling all item-types under a single price (the analog of grand bundling) can both simultaneously be a logarithmic factor worse than the optimal revenue. Further, in the presence of a data provider, item-type partitioning mechanisms---a more general class of mechanisms which divide item-types into disjoint groups and offer prices for each group---still cannot achieve within a $\log \log$ factor of the optimal revenue. Thus, our results highlight that the presence of a data-provider forces the use of more complicated mechanisms in order to achieve a constant fraction of the optimal revenue

FOSTA: A Hostile Law with a Human Cost

The Allow States and Victims to Fight Online Sex Trafficking Act of 2017 (“FOSTA”) rescinded legal immunity for websites that intentionally host user-generated advertisements for sex trafficking. However, Congress’s mechanism of choice to protect sex-trafficking victims has faced critique and backlash from advocates for those involved in commercial sex, who argue that FOSTA’s broad legislative language does far more to harm sex workers—a group distinct from sex-trafficking victims—than it does to end sex trafficking, chilling significant protected speech in the process. These critics posit that FOSTA’s results toward eradicating sex trafficking have been negligible and that its chief outcome has been to eliminate digital screening and security protections that consensual sex workers rely upon, thereby forcing the industry back into a far more dangerous street-based model. By eliminating protections for consensual sex workers, however, FOSTA endangers trafficking victims as well, and without online advertisements serving as a “smoking gun,” law enforcement has struggled to find trafficked individuals. This Note explores FOSTA’s effects on consensual sex workers in the United States from two angles. First, it analyzes how FOSTA’s chill on speech that advocates for sex workers’ health, safety, and right to work in their industry contributes to the law’s unconstitutional overbreadth. Second, it compares FOSTA’s practical effects that are in line with its stated goals with the harmful consequences the law has inflicted upon the sex work community and beyond. While this Note proposes amended language to improve FOSTA, it ultimately advocates for FOSTA’s repeal and suggests that if sex work were decriminalized and more pragmatic legislation were implemented to better inculpate traffickers, mitigate harm to trafficking survivors, and reduce future victimization, FOSTA’s stated goals could be realized

What the Surprising Failure of Data Anonymization Means for Law and Policy

Paul Ohm is an Associate Professor of Law at the University of Colorado Law School. He writes in the areas of information privacy, computer crime law, intellectual property, and criminal procedure. Through his scholarship and outreach, Professor Ohm is leading efforts to build new interdisciplinary bridges between law and computer science. Before becoming a law professor, Professor Ohm served as a federal prosecutor for the U.S. Department of Justice in the computer crimes unit. Before law school, he worked as a computer programmer and network systems administrator

Pervasively Distributed Copyright Enforcement

In an effort to control flows of unauthorized information, the major copyright industries are pursuing a range of strategies designed to distribute copyright enforcement functions across a wide range of actors and to embed these functions within communications networks, protocols, and devices. Some of these strategies have received considerable academic and public scrutiny, but much less attention has been paid to the ways in which all of them overlap and intersect with one another. This article offers a framework for theorizing this process. The distributed extension of intellectual property enforcement into private spaces and throughout communications networks can be understood as a new, hybrid species of disciplinary regime that locates the justification for its pervasive reach in a permanent state of crisis. This hybrid regime derives its force neither primarily from centralized authority nor primarily from decentralized, internalized norms, but instead from a set of coordinated processes for authorizing flows of information. Although the success of this project is not yet assured, its odds of success are by no means remote as skeptics have suggested. Power to implement crisis management in the decentralized marketplace for digital content arises from a confluence of private and public interests and is amplified by the dynamics of technical standards processes. The emergent regime of pervasively distributed copyright enforcement has profound implications for the production of the networked information society

Medical Malpractice and Managed Care Organizations: The Implied Warranty of Quality

Managed care organizations (MCOs) have become prime targets in the new medical malpractice litigation, but getting a judgment against an MCO can be difficult. It is argued that courts should impose a tort-based implied warranty of quality on MCOs, under which they would be liable for selling physician services that are negligently rendered

Approach Toward a Unified Health Insurance System: What Can Japan Learn from the Korean Experience.

We discuss that Japan should make a comprehensive reform of the existing institutions of health insurance in view of the apparent structural problems centering on the financial instability of health care finance, and discrepancies in premiums and benefits among the insured.HEALTH ; JAPAN ; KOREA

The mechanics and regulation of variable payout annuities

This paper discusses the mechanics and regulation of participating and unit-linked variable payout annuities. These annuities offer benefits that are not fixed in either nominal or real terms but depend on the performance of the fund or funds in which the underlying reserve assets are invested, their profit sharing features, and the treatment of longevity risk. The paper focuses on the treatment of investment and longevity risks by different types of these annuities and underscores the challenge of establishing a robust and effective framework of regulation and supervision for these products. The paper also addresses the exposure of annuitants to integrity risk and places special emphasis on the need for a high level of meaningful transparency.Debt Markets,Insurance&Risk Mitigation,Investment and Investment Climate,Pensions&Retirement Systems,Non Bank Financial Institutions