Name Your Own Price on Data Marketplaces
Stahl Florian, Vossen Gottfried
A novel approach to pricing on data marketplaces is proposed, which is based on the Name Your Own Price (NYOP) principle: Customers suggest their own price for a relational data product and in return receive a custom-tailored data product.The result is a fair pricing scheme were sellers can achieve a higher revenue, while buyers receive a product which matches both their preferences and budget. We contrast NYOP with previous research on view-based pricing on data marketplaces as well as on discount schemes to increase revenue.
Data Pricing; Data Quality; Data Marketplaces