Preliminary Case Study on Value Determination of Datasets and Cross-disciplinary Data Collaboration Using Data Jackets

Abstract

The potential expectation about generating innovative businesses and creating values by combining data from different domains has been increased. However, a major problem for establishing the market of data for cross-disciplinary data collaboration is that both data holders and users do not recognize the values of data as economic goods. Data holders do not know the optimal investment level for data production because of the lack of knowledge about the market values of data. Therefore, in the current situation, the conditions for data exchange, e.g., the prices of data, are the asking prices of data holders. In this paper, we conducted the workshop for observing the utility values of data varying depending on the contexts of data utilizations using Data Jackets. Data Jacket (DJ) is the technique for sharing the information about data by publishing the summary of datasets as meta-data. Even if the data itself is not open in public, DJs enable the stakeholders in the market of data to consider the latent value of datasets by understanding the information about data described on DJs. Referring to the method of behavioral economics, we design a place where intentions and purposes of each stakeholder, especially data users in this experiment, in the data market are reflected. We quantify the values of data with the currency unit used in actual value exchange in the society. The result suggested that the prices of data which data users are willing to pay depend on the usage contexts.