The economics of social data.
A data intermediary acquires signals from individual consumers regarding their preferences. The intermediary resells the information in a product market wherein firms and consumers tailor their choices to the demand data. The social dimension of the individual data—whereby a consumer's data are pred...
| Published in: | RAND Journal of Economics (Wiley-Blackwell) Vol. 53; no. 2; pp. 263 - 297 |
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| Main Authors: | , , |
| Format: | Article |
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Wiley-Blackwell
Jun2022
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=157232992&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 157232992 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Jun2022 vid: 53 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 157232992 10.1111/1756-2171.12407 ppf: 263 ppct: 34 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 566KB tig: atl: The economics of social data. aug: au: Bergemann, Dirk Bonatti, Alessandro Gan, Tan affil: Yale University MIT Sloan School of Management su: Socioeconomics Consumer education Consumer preferences Externalities Privacy Value capture sug: subj: Socioeconomics Consumer education Consumer preferences Externalities Privacy Value capture keyword: collaborative filtering consumer privacy data externality data intermediaries data policy data rights personal information privacy paradox social data collaborative filtering consumer privacy data externality data intermediaries data policy data rights personal information privacy paradox social data ab: A data intermediary acquires signals from individual consumers regarding their preferences. The intermediary resells the information in a product market wherein firms and consumers tailor their choices to the demand data. The social dimension of the individual data—whereby a consumer's data are predictive of others' behavior—generates a data externality that can reduce the intermediary's cost of acquiring the information. The intermediary optimally preserves the privacy of consumers' identities if and only if doing so increases social surplus. This policy enables the intermediary to capture the total value of the information as the number of consumers becomes large. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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