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The economics of data favor scale above all, shifting power from consumers to the masters of data.
While privacy and security are certainly top priorities, governments now recognize that the economics of data are going to be crucial for future innovation and growth.
Farmers are at risk of being left out of the conversation and the lucrative economics of data if we don't speak up.
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The economics of big data is an extension of the economics of information, as big data represents a particular kind of information that extends our understanding on the value of information.
The first paper, "How signaling and search costs affect information asymmetry in P2P lending: the economics of big data", by Jiaqi Yan, Wayne Yu and J. Leon Zhao, takes an information economics perspective to investigate how big data affects the transformation of the lending industry.
Last fall, at an FTC hearing on the economics of big data and personal information, Carnegie Mellon University professor of IT and public policy, Alessandro Acquisti, teased a piece of yet to be published research — working with a large U.S. publisher that provided the researchers with millions of transactions to study.
Fig. 4 Impact of Big Data on Economics of Information.
"The killer app isn't here yet," said William Hoffman, who is working on a multiyear study of the economics of personal data for the World Economic Forum.
(Mark Thoma) The economics of census data (Worthwhile Canadian Initiative) A marriage made in heaven or hell: Monetary and financial stability (IMF Direct) Is China's market oversold, or overbought?
How would these policies influence the economics of big data?
Figure 4 summarizes our proposed theory of the economics of big data.
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