Can personal data be treated as goods?
2020 Volume 4 Issue 1 Pages 47-61
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2020 Volume 4 Issue 1 Pages 47-61
In this paper, we have examined the question "Can personal data be treated as goods?" and we have summarized the challenges of treating personal data as a good.
Although we can recognize the economic value of personal data, it is not clear how to calculate the value of personal data. In addition, individuals may not be able to correctly evaluate the compensation for providing personal data, and their awareness of the compensation may prevent them from making use of their personal data. Furthermore, there is a difference between the view of personal data as a good and the purpose of the Personal Information Protection Law.
At present, mechanisms such as the Information Bank are being developed to make use of personal data. In order for these schemes to be useful, policies are needed to support individuals and businesses' awareness of the value of personal data.
In addition, personal data has public good characteristics and externalities. it is necessary to consider what mechanisms will be used to promote the use of personal data.
