Related papers: A Survey on Data Pricing: from Economics to Data Science

A Survey on Data Pricing: from Economics to Data Science

URL: http://arxiv.org/abs/2009.04462v2
Date: Fri, 27 Nov 2020 23:10:46 GMT
Title: A Survey on Data Pricing: from Economics to Data Science
Authors: Jian Pei
Abstract summary: We examine various motivations behind data pricing and understand the economics of data pricing. We discuss both digital products and data products. We consider a series of challenges and directions for future work.
Score: 61.72030615854597
License: http://creativecommons.org/licenses/by/4.0/
Abstract: Data are invaluable. How can we assess the value of data objectively, systematically and quantitatively? Pricing data, or information goods in general, has been studied and practiced in dispersed areas and principles, such as economics, marketing, electronic commerce, data management, data mining and machine learning. In this article, we present a unified, interdisciplinary and comprehensive overview of this important direction. We examine various motivations behind data pricing, understand the economics of data pricing and review the development and evolution of pricing models according to a series of fundamental principles. We discuss both digital products and data products. We also consider a series of challenges and directions for future work.

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