Economics-Inspired Instant Trust Mechanisms for the Service Provision Industry

Lead Research Organisation: Newcastle University
Department Name: Computing Sciences

Abstract

This feasibility study determines if the economics-inspired mechanisms recently proposed by Huberman and Jurca can create on-line service provision businesses that can be trusted by customers without reliance on brand or reputation of the provider. Practical deployment of these economics-inspired 'instant trust' approaches faces steep challenges and unknowns, both with respect to the feasibility of the technological ICT implementation and to the practicality of the associated business models. In particular, the mechanisms are based on theoretical assumptions (e.g., perfect sharing of information) that may be hard toimplement and may result in business models (e.g., compensation payments) that may pose unacceptable business risks. This feasibility study therefore aims at determining technical as well as business feasibility of these economics-inspired instant trust approaches. We will study this question assuming a service provider scenario, and in collaboration with an entertainment application server provider SME. If successful, the project has the potential to open up the service provision market, allowing small and medium-sized enterprizes to break into these markets, while at the same time better protecting customers against one-sided terms and conditions.

Publications

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Abdullah, J; (2011) Uncertainty and Uncertainty Tolerance in Service Provisioning

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C Smith (2009) Policy in Institutional Trust for Electronic Transactions in Policy and Internet, Berkely Electronic Press

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C Smith (2009) Uncertainty in Contract-based Service Provision in Concurrency and Computation: practice and Experience

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Dodda R (2009) Contemporary Computing

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F Li (2009) Towards an Institutional Framework of Trust for On-Line Transactions

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Fenz S (2011) A Community Knowledge Base for IT Security in IT Professional

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Li F (2011) A Holistic Framework for Trust in Online Transactions in International Journal of Management Reviews

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Mace J (2010) A collaborative ontology development tool for information security managers

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Mace J (2011) The case for dynamic security solutions in public cloud workflow deployments

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Mace, J.C. (2009) Ontology Editing Tool for Information Security and Human Factors Experts

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Machulak M (2010) User-managed access to web resources

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Machulak M (2010) Design and implementation of user-managed access framework for web 2.0 applications

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Parkin S (2010) A stealth approach to usable security

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Smith C (2010) Economic Models and Algorithms for Distributed Systems

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Smith, C; (2009) An Institutional Approach To Trust In Electronic Transactions

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Stahl, F; (2011) Cooperative Information Security Knowledge: Content Validation and incentives to contribute

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Stepanova, D (2009) A Knowledge Base for Justified Information Security Decision-Making

 
Description We took a business management perspective on ICT approaches to establish trust. We found out that there is a big gap between technological (financial) solution and actual social acceptance and appreciation.
Exploitation Route The framework can be used by academics to evaluate trustworthiness and discuss the topic of trust based on share concepts.
Sectors Digital/Communication/Information Technologies (including Software)

Financial Services

and Management Consultancy
 
Description The work brought together Business academics and ICT academics, providing a framework that went on the be used in other projects, including Social Inclusion through Digital Economy.
First Year Of Impact 2012
Sector Digital/Communication/Information Technologies (including Software)
Impact Types Societal