Trust and Risk in Internet Commerce

Trust and Risk in Internet Commerce

by L. Jean Camp
     
 

ISBN-10: 0262531976

ISBN-13: 9780262531979

Pub. Date: 06/24/2001

Publisher: MIT Press

As Internet-based commerce becomes commonplace, it is important that we examine the systems used for these financial transactions. Underlying each system is a set of assumptions, particularly about trust and risk. To evaluate systems, and thus to determine one's own risks, requires an understanding of the dimensions of trust: security, privacy, and reliability.

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Overview

As Internet-based commerce becomes commonplace, it is important that we examine the systems used for these financial transactions. Underlying each system is a set of assumptions, particularly about trust and risk. To evaluate systems, and thus to determine one's own risks, requires an understanding of the dimensions of trust: security, privacy, and reliability.

In this book Jean Camp focuses on two major yet frequently overlooked issues in the design of Internet commerce systems — trust and risk. Trust and risk are closely linked. The level of risk can be determined by looking at who trusts whom in Internet commerce transactions. Who will pay, in terms of money and data, if trust is misplaced? When the inevitable early failures occur, who will be at risk? Who is "liable" when there is a trusted third party? Why is it necessary to trust this party? What exactly is this party trusted to do? To answer such questions requires an understanding of security, record-keeping, privacy, and reliability.

The author's goal is twofold: first, to provide information on trust and risk to businesses that are developing electronic commerce systems; and second, to help consumers understand the risks in using the Internet for purchases and show them how to protect themselves. Rather than propose a single model of an Internet commerce system, the author provides the information and insights needed by merchants and consumers as they develop the Internet for commerce.

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Product Details

ISBN-13:
9780262531979
Publisher:
MIT Press
Publication date:
06/24/2001
Edition description:
New Edition
Pages:
296
Product dimensions:
6.00(w) x 9.00(h) x 0.50(d)
Age Range:
18 Years

Table of Contents

Prefaceix
Introduction1
1The Internet5
What Is the Internet?5
What Are Its Origins?6
Where Is the Internet?9
Who Is on the Internet?14
How Does the Internet Work?18
Layers of Protocol and Stages of a Transaction30
Commercial Transactions31
Evaluating Information On-line36
Pricing and Quality in Internet Commerce40
Convergence and the Internet43
2Money47
Functions of Money47
Digital Information Money51
Money Vendors54
3Basic Cryptography57
Private Key Cryptography60
Public Key Cryptography61
Hash Functions63
4Security Goals65
Threats to Electronic Information Systems66
Confidentiality68
Availability70
Scalability72
Authentication73
Integrity75
Nonrepudiation76
5Key Management Is Trust Management79
Symmetric Key Management80
Asymmetric Key Management83
Digital Certificates83
Key Length92
Pseudonymity and Anonymity93
Microdata Security95
6Privacy Perspectives99
Law Enforcement: Trust Us101
The Business Community: Trust Me105
System Designers: Ignore Me107
Social Critics: Trust for the Common Good108
Europeans: Limit Trust110
7Privacy in Law, Privacy in Practice115
State Law117
Federal Law121
Privacy and Information Technology130
8Data Reporting: Trusting the Government145
Required Information Reporting145
Reporting Examples152
Reconsidering Requirements157
Cryptography Policy163
Disclosure Summary166
9Transactions169
Reliability170
Scalability174
Divisibility175
Interoperability176
Open Systems, Standards, and Protocols179
10Examination of Internet Commerce Systems183
Distinctions among Commerce Systems184
Analyses of Various Systems186
Example Analyses190
Credit Cards: A Notational System190
Cash: A Token System199
Summary204
11Internet Currencies207
Notational Currencies207
First Virtual207
Secure Sockets Layer215
Secure Electronic Transaction220
Token Currencies230
Digicash232
MicroMint237
Millicent246
Summary250
12The Coming Collapse in Internet Commerce255
References263
Index275

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