It has been argued that privacy is the new currency on the Web. Services offered for free are actually paid for using personal information, which is then turned into money (e.g., using targeted advertising). But what is the exchange rate for privacy? In the largest experiment ever and the first done in field, we shed new light on consumers’ willingness to pay for added privacy.
One in three Web shoppers pay half a euro extra for keeping their mobile phone number private. If privacy comes for free, more than 80% of consumers choose the company that collects less personal information, our study concludes.