utility-maximizing definition
utility-maximizing term means that the user intends to maximize its total benefits, defined via criteria left to his choice. For instance, if, in the opinion of some individual, privacy prevails over (small) financial advantages, he should choose to refuse a fidelity card in a shopping center, a card that often mentions name and address of the bearer and tracks his purchases, but also proposes reductions and special offers on shopping items. “Forward-looking” implies that individ- uals try to maximize their “utility” in the medium or long term. The notion “Bayesian updater ” models an individual that is able to make rational decisions based on a priori beliefs, and to improve his beliefs at each new event (here, an event is a transaction). In practice, this means an individual makes rational decisions on how to handle a specific privacy transaction based on his expectations of the outcome of the transaction and his past experiences. The last part of the definition supposes the individuals are fully informed, in particular on the consequences on the transaction for all parties, or at least have access to knowledge common to all parties.