Published on 5 August 2021
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Potential social value from data: an application of discrete choice analysis

A new working paper by Diane Coyle and Annabel Manley looks to contribute to the ‘grand challenge’ of understanding the value of data to our society.

Data is understood to be a key digital economy resource and yet one that is difficult to value, as there are relatively few market prices for data. In addition its non-rival nature and pervasive externalities mean there will also be a wedge between any market price and the social value of the data. This paper proposes an approach to estimating the social value of certain kinds of data sets using a discrete choice approach, and a methodology that could for example be used by public bodies to understand the value of their data investments. We test this approach on a specific data set as proof of concept.

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We are grateful for funding for this work from the Omidyar Network

Authors

Diane Coyle 2018

Professor Diane Coyle

Bennett Professor of Public Policy and Co-Director of the Bennett Institute for Public Policy

Professor Coyle co-directs the Bennett Institute with Professor Kenny. She is heading research under the progress and productivity themes. Biography Professor Dame Diane Coyle is the Bennett Professor of Public Policy at...

Annabel Manley

Related Research Projects

Productivity

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