On Valuing and Procuring Private Data
summary
Argues personal data is best framed as controllable rights (like copyright) and proposes an online procurement mechanism that posts take-it-or-leave-it price menus and pays for a datum’s marginal loss improvement to a trained model. Applies to medical records and browsing history, assumes agents cannot fabricate records, and explores adding differential privacy to limit harm. Highlights practical gaps: sampling bias from priceable subpopulations, enforcement when models hide use, and budget limits on purchasing valuable points.
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chapters (7)
- 0:00Introduction
- 2:36Data ownership defined
- 7:31Valuing personal data
- 12:19Economic theory of data markets
- 17:23Data procurement research
- 24:33Societal impacts of data markets
- 31:12Legal and technical data control
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