An Experimental Study on Discovering the Value of Private Data

Data marketplaces have emerged as a new business paradigm where data are traded as commodities. In a data marketplace, people, or data owners, can monetise their private data. However, it is rarely investigated how much loss that the data owners experience when they sell their data in data marketplaces, and it is hard for data marketplace companies to compensate them properly. This paper aims to fill this gap by answering the following research question: How much cost, in monetary terms, do data owners experience when trading their private data, in varying situations regarding the type of data being traded, the level of privacy being preserved, or the volume of data? To answer these questions, we design and conduct laboratory experiments by constructing a simulated data marketplace. The data analysis results show some insights on the private data value of data owners in data trading.

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