The Economic Perspective of Privacy - Examination of Different Methods for Monetary Quantification

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Journal Title

Journal ISSN

Volume Title

Perustieteiden korkeakoulu | Master's thesis

Authors

Date

2024-01-22

Department

Major/Subject

Human-Computer Interaction and Design

Mcode

SCI3020

Degree programme

Master's Programme in ICT Innovation

Language

en

Pages

68 + 11

Series

Abstract

Privacy is increasingly regarded as a commodity in the digital economy. The economic aspect of privacy involves trade-offs between personal and public interests. Businesses collect vast amounts of personal data, while individuals are both consumers and data suppliers. Research attempts to measure data's monetary value through Willingness-To-Pay (WTP) and Willingness-To-Accept (WTA), revealing the "Privacy Paradox." Recent methods like Contingent Valuation (CV) and Discrete Choice Experiment (DCE) offer insights into data sensitivity. Given the unresolved debate surrounding the measurement of privacy's monetary value, this thesis aims to compare the two stated approaches used in two experiments. Through comprehensive evaluation, this thesis seeks to determine the reliability of CV and DCE methodologies and validate the economic perspective as a viable approach to understanding privacy.

Description

Supervisor

Möller, Sebastian

Thesis advisor

Nieminen, Mika

Keywords

usable privacy, privacy economics, monetary valuation, comparative analysis

Other note

Citation

Permanent link to this item

https://urn.fi/URN:NBN:fi:aalto-202401281976

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[dipl] Perustieteiden korkeakoulu / SCI