Putting a Price Tag on Personal Information - A Literature Review

Abstract

In the digital age, personal information is claimed to be the new commodity with a rising market demand and profitability for businesses. Simultaneously, people are becoming aware of the value of their personal information while being concerned about their privacy. This increases the demand of direct compensation or protection. In response to the commodification of privacy and the increased demand for compensation, a number of scholars have shed light on the value people assign to their personal information. However, these findings remain controversial as their results differ tremendously due to different research methods and contexts. To address this gap, we conducted a systematic literature review to gain insights into the current research state and to identify further research avenues. By synthesizing and analyzing 37 publications, we provide an integrative framework along with seven contextual factors affecting individuals’ valuation of privacy.