TY - JOUR

T1 - Phorced to Phish

T2 - Benefits of a Phishing Equilibrium

AU - D'Qrill, Nemo

AU - Hendricks, Vincent Fella

PY - 2018/6/14

Y1 - 2018/6/14

N2 - A salesman calls up to offer you a “much” better phone plan. Before you know, you have changed to this new plan, which not only exceeds your needs, but also “procures” a six-month free subscription to an online music service. You needed neither and pay more: you have just been “phished” as Akerlof and Shiller would say in their recent book Phishing for Phools. Furthermore, their phishing equilibrium dictates that if your company does not phish others will, so you phish to survive. The purpose of this paper is to present a formal analysis of phishing and phishing equilibria with surprising potential benefits to consumers rather than scamsters.

AB - A salesman calls up to offer you a “much” better phone plan. Before you know, you have changed to this new plan, which not only exceeds your needs, but also “procures” a six-month free subscription to an online music service. You needed neither and pay more: you have just been “phished” as Akerlof and Shiller would say in their recent book Phishing for Phools. Furthermore, their phishing equilibrium dictates that if your company does not phish others will, so you phish to survive. The purpose of this paper is to present a formal analysis of phishing and phishing equilibria with surprising potential benefits to consumers rather than scamsters.

U2 - 10.1108/RBF-07-2016-0045

DO - 10.1108/RBF-07-2016-0045

M3 - Journal article

VL - 10

SP - 183

EP - 191

JO - Review of Behavioral Finance

JF - Review of Behavioral Finance

SN - 1940-5979

IS - 2

M1 - RBF-07-2016-0045

ER -