The Economic Value of Personal Information Under the Situation of Information Leakage

In recent years, there are increasing concerns on personal information leakage. As a result, implementing differentiated protection according to consumers' preferences is necessary. Based on discrete choice model, this paper seeks to quantify the economic value of different types of personal information by studying individuals' willingness to accept compensations at different situations of information leakage. The results show that individuals generally attach great importance to basic personal information, but have little concerns on their social network information. Individuals value all types of personal information differently based on their gender, age, education and frequency of Internet use. The results of which are expected to aid stake-holders in adjusting their information collection strategies.