Pricing privacy – the right to know the value of your personal data

Malgieri, Gianclaudio; Custers, Bart

doi:10.1016/j.clsr.2017.08.006

Cited by 95 publications

(95 citation statements)

References 6 publications

(5 reference statements)

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“…The problem becomes even more difficult when there is no price for a service, as in a digital zero-price market (Newman, 2015). A well-known example of a digital zero-price market is Facebook, which leverages personal data to sell personalized ads to other external businesses (Malgieri & Custers, 2018;Polykalas & Prezerakos, 2019). However, not much is said about how these markets really work and how values are exchanged between consumers and businesses.…”

Section: The New Value Creation and Value Capturementioning

confidence: 99%

“…Previous studies therefore lack insight into how value creation and value capture by content creators from a business perspective are carried out. Also, possible value asymmetries between consumers and businesses have been studied within digital zero-price markets (Malgieri & Custers, 2018;Polykalas & Prezerakos, 2019) and other studies have investigated the monetary value (Acquisti et al, 2015). However, value created by consumers in digital zero-price markets still remains largely unclear, since it is a new phenomenon with different logic of value creation and value capture.…”

Section: Consequently the Purpose Of This Dissertation Ismentioning

confidence: 99%

“…Also, as pointed out by several scholars, the blockchain technology is seen as an enabler for content creators in order to handle payments and for securing their rights and values (Malgieri & Custers, 2018;McConaghy et al, 2017;Newman, 2018;O'Dair & Beaven, 2017;Tapscott & Tapscott, 2017). It has been observed that new intermediaries have started to emerge, i.e., service providers offering blockchain solutions (Fabian, 2017).…”

Section: Consequently the Purpose Of This Dissertation Ismentioning

confidence: 99%

“…In recent studies it has been concluded that the personal data market has been growing exponentially in recent years (Shen et al, 2019), and a question which has received attention is, how much is personal data worth? There are some studies estimating the value of personal data, for instance that, to a business, it can be worth about 1-10 dollars per user per month (Malgieri & Custers, 2018). Another indication of the value of an average user for a business is given by the following example.…”

Section: Introductionmentioning

confidence: 99%

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Mind Your Own Business : Understanding and characterizing valuecreated by consumers in a digital economy

Mileros

2020

Linköping Studies in Science and Technology. Licentiate Thesis

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In the context of what is commonly referred to as consumer-centric digital economy, personal data has become the new currency which is utilized by consumers to be granted access to seemingly "free apps" within so-called digital zero-price markets. Simultaneously, there are consumers, known as "content creators", who can generate million-dollar revenues annually. The current understanding of how consumers create and capture value within this new digital economy is scarce and more research is needed to systematically build a basis for creating an understanding of value creation and capture in the consumer-centric digital economy, based on a consumer perspective. The purpose of this dissertation is consequently to explore how consumers create and capture value within a consumer-centric digital economy. The explorative study also serves to obtain an initial overview of the phenomenon and the widely dispersed literature which spans different research fields. The collected data constitute more than 500 articles in combination with empirical data collected from websites. Based on the current literature, central concepts related to consumer-centric digital economy are explained. These include for instance Web 2.0, user-generated content and the consumerto-business relationship. The different concepts are discussed in relation to each other and a trend analysis shows that these concepts are on the rise and have become increasingly popular. The results show that consumers within the digital economy may take different roles, and some create value as business-oriented consumers (i.e., consumers who have a commercial interest). For instance, they make a business out of their participation in the digital economy. Examples are YouTubers, bloggers or creators in virtual worlds such as Second Life. Another, probably larger category is characterized as traditional consumers, for instance they participate in the digital economy through their use of seemingly "free" apps but do not reap any direct monetary benefits. By sharing their personal data, they take part in value creation in a more passive way. The findings also indicate that the level of control, e.g. determined by whether or not value is created within the digital platform, may characterize the prerequisites for value capture. Based on this, a taxonomy for value creation and value capture by consumers in the digital economy is developed. The study also identifies different business model types for business-oriented consumers.

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Section: The New Value Creation and Value Capturementioning

confidence: 99%

Section: Consequently the Purpose Of This Dissertation Ismentioning

confidence: 99%

Section: Consequently the Purpose Of This Dissertation Ismentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Mind Your Own Business : Understanding and characterizing valuecreated by consumers in a digital economy

Mileros

2020

Linköping Studies in Science and Technology. Licentiate Thesis

View full text Add to dashboard Cite

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“…Each data provider i ∈ K is modeled with a non-decreasing function (i.e., compensation scheme) C i : τ → R + , representing a promise between a data platform and a data provider on how much data provider should be compensated for their privacy loss τ (Privacy loss is the extent to which individual sensitive information is disclosed. The quantification of privacy loss to an individual is defined by differential privacy [11,12]), where τ is the quantification of privacy loss of data provider as τ and money are correlated [13,14]. In addition, the compensation scheme is determined by the data market according to the type of data provider (i.e., privacy preference).…”

Section: Notation Description Imentioning

confidence: 99%

Personal Data Market Optimization Pricing Model Based on Privacy Level

Yang

Xing

2019

Information

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In the era of the digital economy, data has become a new key production factor, and personal data represents the monetary value of a data-driven economy. Both the public and private sectors want to use these data for research and business. However, due to privacy issues, access to such data is limited. Given the business opportunities that have gaps between demand and supply, we consider establishing a private data market to resolve supply and demand conflicts. While there are many challenges to building such a data market, we only focus on three technical challenges:(1) How to provide a fair trading mechanism between data providers and data platforms? (2) What is the consumer's attitude toward privacy data? (3) How to price personal data to maximize the profit of the data platform? In this paper, we first propose a compensation mechanism based on the privacy attitude of the data provider. Second, we analyze consumer self-selection behavior and establish a non-linear model to represent consumers' willingness to pay (WTP). Finally, we establish a bi-level programming model and use genetic simulated annealing algorithm to solve the optimal pricing problem of personal data. The experimental results show that multi-level privacy division can meet the needs of consumers and maximize the profit of data platform.

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Blockchain and the transition to the circular economy: A literature review

Schmidt,

Sehnem,

Spuldaro

2023

Corp Soc Responsibility Env

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Companies and industries face various challenges when it comes to embracing the circular economy (CE). These challenges not only deter companies from adopting effective strategies that promote it but also hinder industries from effectively establishing a circular system that ensures the addition of economic value to the supply chain. To address these challenges, blockchain technology has emerged as a new and revolutionary protocol for sharing and updating information. It does so by linking databases within a decentralized, peer‐to‐peer, open‐access network, guaranteeing secure, immutable, and irreversible operations. Within this context, the primary objective of this article is to investigate how blockchain technology supports the transition to the CE. Additionally, the paper aims to identify the barriers that hinder the process of transitioning to the CE. To achieve this, a systematic literature review (SLR) was conducted, considering 22 articles published in recent years across Scopus, Web of Science, and Science Direct databases. The results of this review underscore the considerable potential of blockchain in supporting companies and industries as they embrace their roles in the CE and seek to overcome the barriers they encounter. The findings reveal that blockchain supports the transition to the CE by facilitating decentralization, enabling smart contracting, enhancing information sharing and improvement, ensuring traceability and transparency, providing incentives, offering protection and security, and promoting value creation. However, in examining the barriers that blockchain may face in supporting companies and industries as they transition to the CE, certain challenges are highlighted. These include issues related to low scalability, insufficient funding, underdeveloped regulations, limited infrastructure support, a lack of standardization and generalization, high initial adoption costs, associated risks, and a deficiency in engagement and awareness. In conclusion, this study contributes to the existing literature by demonstrating that although barriers may pose challenges to blockchain's role in facilitating the CE transition, the benefits it offers are likely to outweigh these obstacles.

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Pricing privacy – the right to know the value of your personal data

Cited by 95 publications

References 6 publications

Mind Your Own Business : Understanding and characterizing valuecreated by consumers in a digital economy

Mind Your Own Business : Understanding and characterizing valuecreated by consumers in a digital economy

Personal Data Market Optimization Pricing Model Based on Privacy Level

Blockchain and the transition to the circular economy: A literature review

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