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The Value of Online Information Privacy: An Empirical Investigation

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  • Hann, Il-Horn
  • Hui, Kai-Lung
  • Lee, Tom S.
  • Png, Ivan P. L.

Abstract

Concern over online information privacy is widespread and rising. However, prior research is silent about the value of information privacy in the presence of potential benefits from sharing personally identifiable information. Analyzing individuals' trade-offs between the benefits and costs of providing personal information to websites revealed that benefits, monetary reward and future convenience, significantly affect individuals' preferences over websites with differing privacy policies. Quantifying the value of website privacy protection revealed that among U.S. subjects, protection against errors, improper access, and secondary use of personal information is worth US $30.49 - 44.62. Finally, three distinct segments of Internet consumers were determined: privacy guardians, information sellers and convenience seekers.

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Bibliographic Info

Paper provided by Regulation2point0 in its series Working paper with number 85.

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Date of creation: Oct 2003
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Handle: RePEc:reg:wpaper:85

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  1. Brinberg, David & Wood, Ronald, 1983. " A Resource Exchange Theory Analysis of Consumer Behavior," Journal of Consumer Research, University of Chicago Press, vol. 10(3), pages 330-38, December.
  2. Leclerc, France & Schmitt, Bernd H & Dube, Laurette, 1995. " Waiting Time and Decision Making: Is Time like Money?," Journal of Consumer Research, University of Chicago Press, vol. 22(1), pages 110-19, June.
  3. Lisa Farrell & Roger Hartley, . "Can Expected Utility Theory Explain Gambling?," Discussion Papers in Public Sector Economics 00/8, Department of Economics, University of Leicester.
  4. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279.
  5. K. Sridhar Moorthy, 1984. "Market Segmentation, Self-Selection, and Product Line Design," Marketing Science, INFORMS, vol. 3(4), pages 288-307.
  6. Ratchford, Brian T, 2001. " The Economics of Consumer Knowledge," Journal of Consumer Research, University of Chicago Press, vol. 27(4), pages 397-411, March.
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Cited by:
  1. Hui, Kai-Lung & Png, Ivan P. L., 2005. "The Economics of Privacy," Working paper 272, Regulation2point0.
  2. Pau, L-F., 2006. "Privacy Management Service Contracts as a New Business Opportunity for Operators," ERIM Report Series Research in Management ERS-2006-060-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.

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