Valuation of Consumers’ Personal Information: A South Korean Example

Kim, Jung-Eun; Yeo, Jungsung

doi:10.1007/s10834-010-9208-1

Cited by 9 publications

(6 citation statements)

References 25 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Similarly, several studies estimated the value of personal information through consumers’ WTA. In those studies, the range of WTA varies from KRW 11,604.7 to KRW 5,889,966.8 (Huang & Lu, 2017; Kim & Yeo, 2010; Kwon et al, 2012; Tanikawa et al, 2019). The difference of estimation WTA stems from the difference of personal information definition and questionnaire scenarios.…”

Section: Resultsmentioning

confidence: 99%

Consumer preference structure of online privacy concerns in an IoT environment

Kim

Park

Shin

et al. 2022

International Journal of Market Research

View full text Add to dashboard Cite

Due to the development of the Internet of Things (IoT) and IoT environments, various concerns have been raised regarding personal information infringement and leakage. To establish a policy for addressing this issue, it is essential to estimate the damage caused by personal information infringement and leakage and decide upon an appropriate policy direction that reflects consumer’s value of their personal information. Therefore, we first estimated how much consumers value each type of personal information using contingent valuation method and assigning a monetary value to each information type. Second, we analyzed consumers’ preference for conditions in which they will provide personal information. A conjoint analysis was used to discover consumer preference concerning the various attributes of the conditions and a mixed logit model was used for the empirical analysis. The results of the analysis show that consumers valued personal information related to private life the most, at approximately USD 110 on average. We also found that demographic variables such as gender and income level affect personal information values. The results of the attributes required to provide personal information analysis found that opt-in was preferred to opt-out and that consumers preferred having optimal authority to control their personal information, rather than whole authority. These results show that consumers are willing to provide their personal information when an adequate reward is given. Therefore, formulating policy direction to establish a confidential market for trading personal information rather than unconditional personal information protection is required.

show abstract

Section: Resultsmentioning

confidence: 99%

Consumer preference structure of online privacy concerns in an IoT environment

Kim

Park

Shin

et al. 2022

International Journal of Market Research

View full text Add to dashboard Cite

show abstract

“…Psychological and sociological aspects of retirement decision-making need further investigation. Consumers do not necessarily process information effectively (Kim and Kim 2010). Assumptions may be flawed.…”

Section: Future Researchmentioning

confidence: 99%

“…Secondly, several articles studied general populations focusing mainly on urban consumers and families (Kim and Yeo 2010;Liao et al 2010;Wang et al 2019;Ying and Yao 2010). However, we should note that inevitable societal issues may rise along with the economic transformation and development among the Asian countries, such as geographic inequality in economic development and broadened gaps between rich and poor.…”

Section: Stanford Lawmentioning

confidence: 99%

Ten Years of Research in the Journal of Family and Economic Issues: Thoughts on Future Directions

Dolan

2020

J Fam Econ Iss

View full text Add to dashboard Cite

“…In turn, WTA was analyzed in the context of data leaks. The respondents were asked to estimate the value of certain information that had been leaked online, according to the study scenario (Kim and Yeo, 2010). On the other hand, Acquisti proposes a study with closed questions, to which the answer is either "yes" or "no", or specifying a certain sum of money.…”

Section: Privacy and Customers -Who Is The Payer?mentioning

confidence: 99%

Kto Jest Płatnikiem? Wartość Prywatnych Informacji Z Perspektywy Klientów I Firm

Małagocka

2018

AUNC_ZARZ

View full text Add to dashboard Cite

In the knowledge-based economy data has become an important part of building competitive advantage. The private and public sectors are demonstrating enormous interest in acquiring increasingly greater amounts of information. From growing sets of unstructured, seemingly disconnected data, one can extract information that can not only identify a given person, but also determine their demographic, socio-geographical, behavioral or mental characteristics, learn their shopping preferences, track their daily schedules and habits. In this sense, it becomes attractive to any kind of company operating online, including advertisers. On the other side of the stage there are consumers for whom private information is a resource that can be exchanged for various tangible and intangible benefits. Irrespective of the fact that some of the private information is perceived as more sensitively or more worthy than other, customers, as evidenced by numerous studies, choose money over data. The value of information depends on who owns it, who wants it, and who and how much is willing to pay for it. The aim of the paper is to present the concept of the value of private information from the perspective of customers and companies.

show abstract

Valuation of Consumers’ Personal Information: A South Korean Example

Abstract: Consumers’ valuation, Contingent valuation method (CVM), Personal information,

Cited by 9 publications

References 25 publications

Consumer preference structure of online privacy concerns in an IoT environment

Consumer preference structure of online privacy concerns in an IoT environment

Ten Years of Research in the Journal of Family and Economic Issues: Thoughts on Future Directions

Kto Jest Płatnikiem? Wartość Prywatnych Informacji Z Perspektywy Klientów I Firm

Contact Info

Product

Resources

About