When people talk about “market failures” with regard to the ownership of data, what do they mean?
- The incentives to generate data?
- The incentives to store and/or collect data?
- The incentives to invest into designing data-sets and databases from which insight and value can be created?
In a new study (joint with Oliver Falck – external link), we provide some (necessary) structure on the various possibilities of market interactions and failures in the area of data, based on the current state of the art of economic research. The study (in German) may be accessed here free of charge: Study “Data as a resource” – external link).