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From the early days of the information economy, personal data has been itsmost valuable asset. Despite data protection laws and an acknowledged right toprivacy, trading personal information has become a business equated with"trading oil". Most of this business is done without the knowledge and activeinformed consent of the people. But as data breaches and abuses are made publicthrough the media, consumers react. They become irritated about companies' datahandling practices, lose trust, exercise political pressure and start toprotect their privacy with the help of technical tools. As a result, companies'Internet business models that are based on personal data are unsettled. An openconflict is arising between business demands for data and a desire for privacy.As of 2015 no true answer is in sight of how to resolve this conflict.Technologists, economists and regulators are struggling to develop technicalsolutions and policies that meet businesses' demand for more data while stillmaintaining privacy. Yet, most of the proposed solutions fail to account formarket complexity and provide no pathway to technological and legalimplementation. They lack a bigger vision for data use and privacy. To breakthis vicious cycle, we propose and test such a vision of a personal informationmarket with privacy. We accumulate technical and legal measures that have beenproposed by technical and legal scholars over the past two decades. And out ofthis existing knowledge, we compose something new: a four-space market modelfor personal data.

A vision for global privacy bridges: Technical and legal measures for international data markets