The Economics of Password Sharing

The authors thank the thoughtful and constructive comments from the review team, which have greatly improved the quality of the paper. The authors also thank participants at Theory in Economics of Information Systems (2024) and International Conference of Management Science and Engineering (2024), as well as seminar participants at Southeast University, Boston College, Nanjing University of Science and Technology, Zhejiang University, Tsinghua University, and Guangdong University of Technology for their helpful feedback. They thank Ethan Chen for his research assistance on this project.