Monetary Valuation of Privacy

This book explores the complex domain of personal data valuation, uncovering how individuals perceive the worth of their privacy in an era dominated by digital information exchange. The book delves into the largely scattered empirical research domain of how users value their own data, analyzing how companies like Google and Facebook rely heavily on the continuous collection of personal data to run their business models. By examining concepts like ‘Willingness to Pay’ and ‘Willingness to Accept’ in the context of privacy, the book offers a comprehensive overview of how people navigate the often-ambiguous trade-offs between sharing personal information and safeguarding their privacy. Through an empirical analysis supported by 14 crowdsourcing and two field experiments, the author investigates the influence of various factors—such as Privacy Concerns, Privacy Behavior, and Privacy Literacy—on the monetary assessment of privacy. The book also contrasts different methodological approaches to determine which yields the most reliable results, shedding light on the behavioral biases that can skew data valuation. This book is ideal for anyone interested in the intersection of privacy, economics, and digital ethics. The author not only offers insights into the current landscape but also proposes robust models for understanding and predicting how people value their privacy in different contexts. Whether you are a researcher, policymaker, or simply a concerned digital citizen, this book provides valuable perspectives on the monetization of personal data and the future of privacy in the digital age. - Examines how personal data is valued monetarily, using 'Willingness to Pay' and 'Willingness to Accept' frameworks; - Compares measurement approaches for the valuation of digital information exchange; - Presents prediction models that offer analysis of privacy economics, influencing factors and consumer behavior.