Chad Jones, Christopher Tonetti, 28 July 2020

Data are nonrival in nature. Using a standard model in which firms produce differentiated goods using labour and data as fundamental inputs, this column explores the economic implications of this nonrival nature of data. It suggests that having consumers own their personal data instead of firms may help achieve two important goals. First, consumers would respect their own privacy. Second, consumers would have incentives to sell their data to multiple organisations, thus taking advantage of infinite usability.

Makoto Yano, 14 April 2020

Data are the new resource in the modern production process. Building a high-quality market where this resource is shared, distributed, and used requires first establishing its ownership. This column argues that blockchain technology can be harnessed to effectively assign data ownership and develop a healthy cyber ecosystem. Ensuring the rights of individuals who generate data is crucial to preventing unnecessary erosions of market quality. However, forming a healthy ecosystem will not happen spontaneously, and will require careful planning and the expertise from multiple fields.

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