Policy Options for the Data Economy - a Literature Review

To monitor the impact of the data economy, the European Commission uses the following definition2 The Data Economy measures the overall impacts of the Data Market on the economy as a whole. [...] The Data Economy also includes the direct, indirect, and induced effects of the Data Market on the economy Using this definition, the size of the data economy in 2019 was estimated to be 2.6% of GDP for the EU (325 billion euro, excluding UK). [...] If the privacy of the second person is significantly impacted by the choice of the first person to join the platform, there is little reason for her to abstain from using the platform. [...] The role of adequate public good provision in the data economy is not limited to data itself, but extends to the concept of privacy. [...] In the context of the data economy this could refer to uncertainty about the type of data analysis that is conducted or the effort the other party exerts in data protection.