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The impact of IoT security labelling on consumer product choice and willingness to pay

Johnson, SD; Blythe, JM; Manning, M; Wong, GTW; (2020) The impact of IoT security labelling on consumer product choice and willingness to pay. PLOS ONE , 15 (1) , Article e0227800. 10.1371/journal.pone.0227800. Green open access

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Abstract

The Internet of Things (IoT) brings internet connectivity to everyday electronic devices (e.g. security cameras and smart TVs) to improve their functionality and efficiency. However, serious security and privacy concerns have been raised about the IoT which impact upon consumer trust and purchasing. Moreover, devices vary considerably in terms of the security they provide, and it is difficult for consumers to differentiate between more and less secure devices. One proposal to address this is for devices to carry a security label to help consumers navigate the market and know which devices to trust, and to encourage manufacturers to improve security. Using a discrete choice experiment, we estimate the potential impact of such labels on participant's purchase decision making, along with device functionality and price. With the exception of a label that implied weak security, participants were significantly more likely to select a device that carried a label than one that did not. While they were generally willing to pay the most for premium functionality, for two of the labels tested, they were prepared to pay the same for security and functionality. Qualitative responses suggested that participants would use a label to inform purchasing decisions, and that the labels did not generate a false sense of security. Our findings suggest that the use of a security label represents a policy option that could influence behaviour and that should be seriously considered.

Type: Article
Title: The impact of IoT security labelling on consumer product choice and willingness to pay
Location: United States
Open access status: An open access version is available from UCL Discovery
DOI: 10.1371/journal.pone.0227800
Publisher version: https://doi.org/10.1371/journal.pone.0227800
Language: English
Additional information: Copyright © 2020 Johnson et al. This is an open access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Keywords: Decision making, Behavior, Internet, Pilot studies, Communication equipment, Communications, Elderly, Internet of Things
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Security and Crime Science
URI: https://discovery.ucl.ac.uk/id/eprint/10092864
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