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The Economic Value of Personal Data

Author : Patrick Waelbroeck

Publisher :

Page : 5 pages

File Size : 41,61 MB

Release : 2015

Category :

ISBN :

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Book Description

Three concepts related to information are often confused: the cost of production, the quantity and the value of information. If cost is generally proportional to the amount of information exchanged, there is seldom a direct link between the amount of information and its value. Consider two examples of smart, connected products involving highly sensitive personal data: home automation data and health data. Nest (acquired by Google in January 2014 for $ 3.2 billion) manufactures smart thermostats to control temperature in the different rooms of a home based on environmental parameters such as the number of people in each room. Withings started by selling smart scales but now also sells activity trackers, blood pressure indicators, smart watches, sleep monitors and surveillance cameras. These are information services that produce information through sensors and transmit them via the Internet of Things. The cost of installing these sensors is not very high. The amount of information to be communicated and stored on servers costs more. But none of these quantities is directly related to the value of information. Indeed, a single bit of information indicating with certainty that a fire is about to break out in your home while you are away has a much greater value than the gigabytes of data corresponding to daily variations in the number of people in every part of your home during years. Similarly, a single bit of information indicating with certainty that you are suffering from a rare disease has much more value than the hundreds of gigabytes corresponding to the measurements of your heart rate or the number of your daily steps over several years.The theory of information in economics experienced a sporadic development in the past five decades since the pioneering work of Jacob Marschak. The difficulty arises from to the early attempts to analyze information as a homogeneous good with a single market value. It is now clear that information is a differentiated economic good. In this short note, I review several important concepts: information as an economic good, information theory in economics and the willingness to pay for information, the market for personal information as an equilibrium between supply and demand for personal information.



Policies and Challenges of the Broadband Ecosystem in Japan

Author : Toshiya Jitsuzumi

Publisher : Springer Nature

Page : 238 pages

File Size : 21,28 MB

Release : 2022-02-22

Category : Political Science

ISBN : 9811680043

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Book Description

This book shows how telecom, broadcast, and Internet researchers as well as experts from Japan's leading mobile operators interpret, analyze, and evaluate the emerging phenomenon of the Japanese broadband ecosystem. The broadband ecosystem, as it rapidly changes against the backdrop of swift technological progress, is forcing major changes in the existing socioeconomic framework and generating many policy issues that require discussion. The book aims to provide a theoretical and practical framework for policymakers to address these issues from a broader perspective than has been available in the past. The topics addressed in this book cover sharing of 5G infrastructure, online platform regulation, diffusion of autonomous driving, content industry, trends and use cases of 5G, capacity development for AI, ride-hailing service, smartphone games, the right to be forgotten, and the economic value of personal information. Although this book cannot provide definitive answers to all these recently emerging and rapidly changing issues, it does provide important guidance for evidence-based discussion involving policymakers and researchers working on these issues. It is also recommended for graduate students who want to enter this challenging field of policy discussion.



The Economic Value of Information

Author : David B. Lawrence

Publisher : Springer Science & Business Media

Page : 405 pages

File Size : 25,23 MB

Release : 2012-12-06

Category : Business & Economics

ISBN : 1461214602

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Book Description

The Scope of This Book Popular culture often refers to current times as the Information Age, classifying many of the technological, economic, and social changes of the past four deca:les under the rubric of the Information Revolution. But similar to the Iron Age be fore it, the description "Information Age" suggests the idea that information is a commodity in the marketplace, one that can be bought and sold as an item of value. When people seek to acquire information yet complain about information overload, and when organizations invest millions in information systems yet are unable to pinpoint the benefits, perhaps this reflects a difficulty with the as sessment of the value of this commodity relative to its cost, an inability to dis cern the useless from the useful from the wasteful. The Information Age requires us to assess the value, cost, and gain from information, and to do it from several different viewpoints. At the most elementary level is the individual who perceives a need for in formation-her current state of knowledge is insufficient and something needs to be understood, or clarified, or updated, or forecast. There is a universe of al ternative information sources from which to choose, some more informative than others, some more costly than others. The individual's problem is to evalu ate the alternatives and choose which sources to access. An organization comprising many information-seeking employees and agents must take a somewhat broader viewpoint.



Analysis of the Economic Value of Leaks of Personal Data

Author : Teppei Koguchi

Publisher :

Page : pages

File Size : 37,56 MB

Release : 2015

Category :

ISBN :

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Book Description

In this research, willingness to pay to prevent a leak of personal data-namely, the person's name, address, email address, and video viewing history-and also the willingness to accept compensation in the event of a leak of this data were estimated using the contingent valuation method. From the results of the estimates, it was found that there were major differences in the willingness to pay and the willingness to accept for leaks of personal data. The willingness to pay was about from 3,100 yen (23 euro) to 3,800 yen (28 euro), while the willingness to accept was about from 14,600 yen (108 euro) to 15,800 yen (117 euro).



The Economics and Implications of Data

Author : Mr.Yan Carriere-Swallow

Publisher : International Monetary Fund

Page : 50 pages

File Size : 44,72 MB

Release : 2019-09-23

Category : Computers

ISBN : 1513514814

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Book Description

This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.





The Value of Personal Information

Author : Moritz Godel

Publisher :

Page : 20 pages

File Size : 11,39 MB

Release : 2014

Category :

ISBN :

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Book Description

EC data protection policy is promoted with reference to economic benefits. However, the value of personal information in legitimate business models is rarely discussed. Various economic studies have tried to measure individuals' valuation of different kinds of personal data. We review empirical papers from the last 10 years and find evidence that more disclosure is associated with higher valuations. We find that the current research efforts can be extended to yield insights into the pricing of personal information, taking into account the actual value such information creates in legitimate business applications.



Exploring the Economics of Personal Data

Author : Organisation for Economic Co-operation and Development

Publisher :

Page : 40 pages

File Size : 14,18 MB

Release : 2013

Category : Science and Technology

ISBN :

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Book Description

This report takes an initial look at methodologies to measure and estimate the monetary value of personal data. Personal data is creating economic and social value at an increasing pace, but measuring and estimating the value being generated is difficult. This is because not only a huge amount of data is being generated, but personal data is used in many different situations for numerous purposes. Studying the value of personal data begins with comparing methodologies for assigning the monetary values attached to it.



Digital Privacy

Author : Alessandro Acquisti

Publisher : CRC Press

Page : 494 pages

File Size : 36,35 MB

Release : 2007-12-22

Category : Business & Economics

ISBN : 1420052187

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Book Description

During recent years, a continuously increasing amount of personal data has been made available through different websites around the world. Although the availability of personal information has created several advantages, it can be easily misused and may lead to violations of privacy. With growing interest in this area, Digital Privacy: Theory, Technologies, and Practices addresses this timely issue, providing information on state-of-the-art technologies, best practices, and research results, as well as legal, regulatory, and ethical issues. This book features contributions from experts in academia, industry, and government.



Privacy@work

Author : Frank Hendrickx

Publisher : Kluwer Law International B.V.

Page : 668 pages

File Size : 38,18 MB

Release : 2023-06-12

Category : Law

ISBN : 9403531665

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Book Description

The right to privacy is a fundamental right. Along with the related right to personal data protection, it has come to take a central place in contemporary employment relations and shows significant relevance for the future of work. This thoroughly researched volume, which offers insightful essays by leading European academics and policymakers in labour and employment law, is the first to present a thoroughly up-to-date Europe-wide survey and analysis of the intensive and growing interaction of workplace relations systems with developments in privacy law. With abundant reference to the EU’s General Data Protection Regulation, the case law of the European Court of Human Rights, and the work of the International Labour Organisation, the book proceeds as a series of country chapters, each by a recognised expert in a specific jurisdiction. Legal comparison is based on a questionnaire circulated to the contributors in advance. Each country chapter addresses the national legal weight of such issues and topics as the following: interaction of privacy and data protection law; legitimacy, purpose limitation, and data minimisation; transparency; role of consent; artificial intelligence and automated decision-making; health-related data, including biometrics and psychological testing; monitoring and surveillance; and use of social media. A detailed introductory overview begins the volume. The research for this book is based on a dynamic methodology, founded in scientific desk research and expert networking. Recognising that the need for further guidance for privacy at work has been demonstrated by various European and international bodies, this book delivers a signal contribution to the field for social partners, practitioners, policymakers, scholars, and all other stakeholders working at the crossroads of privacy, data protection, and labour law.