Description
Referred to as the new oil, undoubtedly personal data is a valuable resource for organizations. Contrary, it is still blurred, to what extent individuals value their data even though, in a digitized world, users are requested to exchange their data for adequate services. Former research on individuals’ valuation of personal data result in scattered, partly contradictious values, depending on the data type, context, and the measurement method. In this study, we aimed to facilitate the valuation for individuals by applying a new and promising measurement methodology: the participants of our field experiment had the chance to sell their selfies in a name-your-own-price auction with repeated bidding and feedback loops. As a result, 39% of our participants were willing to donate or sell their selfies with a median of 5€. Additionally, bidding clusters were identified. Implications for research on the valuation of personal data in terms of privacy are discussed.
What is Your Selfie Worth? A Field Study on Individuals’ Valuation of Personal Data
Referred to as the new oil, undoubtedly personal data is a valuable resource for organizations. Contrary, it is still blurred, to what extent individuals value their data even though, in a digitized world, users are requested to exchange their data for adequate services. Former research on individuals’ valuation of personal data result in scattered, partly contradictious values, depending on the data type, context, and the measurement method. In this study, we aimed to facilitate the valuation for individuals by applying a new and promising measurement methodology: the participants of our field experiment had the chance to sell their selfies in a name-your-own-price auction with repeated bidding and feedback loops. As a result, 39% of our participants were willing to donate or sell their selfies with a median of 5€. Additionally, bidding clusters were identified. Implications for research on the valuation of personal data in terms of privacy are discussed.