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Not all data are created equal - Data sharing and privacy

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  • Michiel Bijlsma
  • Carin van der Cruijsen
  • Nicole Jonker

Abstract

The COVID-19 pandemic has increased our online presence and unleashed a new discussion on sharing sensitive personal data. Upcoming European legislation will facilitate data sharing in several areas, following the lead of the revised payments directive (PSD2), which enables payments data sharing with third parties. However, little is known about what drives consumers’ data sharing preferences, as these may differ according to the type of data, type of usage or type of firm using the data. Using a discrete-choice experiment among a representative group of Dutch consumers, we find that next to health data, people are hesitant to share their financial data on payments, wealth and pensions, compared to other types of consumer data. Second, consumers are especially cautious about sharing their data when they are not used anonymously. Third, consumers are more hesitant to share their data with BigTechs, webshops and insurers than they are with banks. Fourth, data sharing choices depend on financial rewards. Last, we show that attitudes towards data usage depend on personal characteristics, consumers’ digital skills, online behaviour and their trust in the firms using the data.

Suggested Citation

  • Michiel Bijlsma & Carin van der Cruijsen & Nicole Jonker, 2024. "Not all data are created equal - Data sharing and privacy," Applied Economics, Taylor & Francis Journals, vol. 56(11), pages 1250-1267, March.
    • Handle: RePEc:taf:applec:v:56:y:2024:i:11:p:1250-1267
    DOI: 10.1080/00036846.2023.2175777
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    References listed on IDEAS

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    1. Carin van der Cruijsen, 2020. "Payments data: do consumers want banks to keep them in a safe or turn them into gold?," Applied Economics, Taylor & Francis Journals, vol. 52(6), pages 609-622, February.
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    1. Laura Grassi, 2024. "In a world of Open Finance, are customers willing to share data? An analysis of the data-driven insurance business," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 14(3), pages 727-753, September.

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    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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