A review of approaches to the value of privacy

TL;DR

This paper reviews various approaches to valuing personal data, highlighting that the enduring value of data diminishes over time, necessitating new monetization strategies for the data economy.

Contribution

It provides a comprehensive comparison of personal data valuation methods and discusses future implications for data monetization strategies.

Findings

Enduring personal data value will decline as it becomes common knowledge.

The price and value of personal data will drop substantially over time.

New monetization methods are needed for the dynamic part of personal information.

Abstract

In this paper we examine information privacy from a value-centered angle. We review and compare different personal data valuation approaches. We consider the value of personal data now and in the near future, and we find that the enduring part of personal data will soon become common knowledge and that their price and value will drop substantially. Therefore the sector that is based on personal data extraction will need to focus on new ways of monetization and on the of the dynamic part of personal information.