A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market
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 con...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-12-01
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| Series: | Data |
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| Online Access: | https://www.mdpi.com/2306-5729/9/1/6 |
| _version_ | 1797344371673137152 |
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| author | Hyojin Park Hyeontaek Oh Jun Kyun Choi |
| author_facet | Hyojin Park Hyeontaek Oh Jun Kyun Choi |
| author_sort | Hyojin Park |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-08T11:01:25Z |
| format | Article |
| id | doaj.art-bbbf246d3a9b46309c6378b4a1a5dc14 |
| institution | Directory Open Access Journal |
| issn | 2306-5729 |
| language | English |
| last_indexed | 2024-03-08T11:01:25Z |
| publishDate | 2023-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Data |
| spelling | doaj.art-bbbf246d3a9b46309c6378b4a1a5dc142024-01-26T15:59:24ZengMDPI AGData2306-57292023-12-0191610.3390/data9010006A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading MarketHyojin Park0Hyeontaek Oh1Jun Kyun Choi2Department of Information and Communications Engineering, Korea Advanced Institute of Science and Technology (KAIST), Daejeon 34141, Republic of KoreaInstitute for Information Technology Convergence, Korea Advanced Institute of Science and Technology (KAIST), Daejeon 34141, Republic of KoreaSchool of Electrical Engineering, Korea Advanced Institute of Science and Technology (KAIST), Daejeon 34141, Republic of KoreaThis 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.https://www.mdpi.com/2306-5729/9/1/6consentpersonal datadata tradingdata consumerprofit maximization |
| spellingShingle | Hyojin Park Hyeontaek Oh Jun Kyun Choi A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market Data consent personal data data trading data consumer profit maximization |
| title | A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market |
| title_full | A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market |
| title_fullStr | A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market |
| title_full_unstemmed | A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market |
| title_short | A Profit Maximization Model for Data Consumers with Data Providers’ Incentives in Personal Data Trading Market |
| title_sort | profit maximization model for data consumers with data providers incentives in personal data trading market |
| topic | consent personal data data trading data consumer profit maximization |
| url | https://www.mdpi.com/2306-5729/9/1/6 |
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