Pricing Personal Data Based on Information Entropy

Personal data is increasingly being traded online, for which data marketplace services have emerged to facilitate. Personal data is increasingly valuable to individuals and institutions. Be aware of the growing value of personal data, compensated use of personal data has become an inevitable trend. Therefore, how to reasonably price personal data becomes an urgent problem to be solved. We propose a novel personal data pricing method, which is based on information entropy and compute the price as the entropy of each data tuple. Our method can reasonably price personal data according to the value of the information entropy. This study shows that our model is arbitrage-freedom and can be adjusted dynamically.