What Is Privacy Worth? | Zendy

Alessandro Acquisti | Zendy; Leslie K. John | Zendy; George Loewenstein | Zendy

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What Is Privacy Worth?

Author(s) -

Alessandro Acquisti,

Leslie K. John,

George Loewenstein

Publication year - 2013

Publication title -

the journal of legal studies

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.251

H-Index - 61

eISSN - 1537-5366

pISSN - 0047-2530

DOI - 10.1086/671754

Subject(s) - endowment effect , information privacy , endowment , order (exchange) , value (mathematics) , private information retrieval , public good , personally identifiable information , business , economics , internet privacy , actuarial science , microeconomics , political science , computer security , law , computer science , finance , machine learning

Understanding the value that individuals assign to the protection of their personal data is of great importance for business, law, and public policy. We use a field experiment informed by behavioral economics and decision research to investigate individual privacy valuations and find evidence of endowment and order effects. Individuals assigned markedly different values to the privacy of their data depending on (1) whether they were asked to consider how much money they would accept to disclose otherwise private information or how much they would pay to protect otherwise public information and (2) the order in which they considered different offers for their data. The gap between such values is large compared with that observed in comparable studies of consumer goods. The results highlight the sensitivity of privacy valuations to contextual, nonnormative factors.

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