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- Title
A Profit Maximization Model for Data Consumers with Data Providers' Incentives in Personal Data Trading Market.
- Authors
Park, Hyojin; Oh, Hyeontaek; Choi, Jun Kyun
- Abstract
This paper proposes a profit maximization model for a data consumer when it buys personal data from data providers (by obtaining consent) through data brokers and provides their new services to data providers (i.e., service consumers). To observe the behavioral models of data providers, the data consumer, and service consumers, this paper proposes the willingness-to-sell model of personal data of data providers (which is affected by data providers' behavior related to explicit consent), the service quality model obtained by the collected personal data from the data consumer's perspective, and the willingness-to-pay model of service consumers regarding provided new services from the data consumer. Particularly, this paper jointly considers the behavior of data providers and service users under a limited budget. With parameters inspired by real-world surveys on data providers, this paper shows various numerical results to check the feasibility of the proposed models.
- Subjects
PROFIT maximization; PERSONALLY identifiable information; CONSUMERS; DATA modeling; HUMAN behavior models; QUALITY of service
- Publication
Data (2306-5729), 2024, Vol 9, Issue 1, p6
- ISSN
2306-5729
- Publication type
Article
- DOI
10.3390/data9010006