View on GitHub

CMSC-33580-1

The Value of Data

Schedule

Please, check out this schedule frequently as it will likely change a bit throughout the quarter.

Date Lecture Keywords Readings
09/29 Introduction. The value of data introduction, economics of data, grading criteria  
10/01 The Data Science Lifecycle collection, preparation, modeling, processing, communication of data products. How does data produce value 1- Wing, J. M. (2019). The Data Life Cycle. Harvard Data Science Review, 1(1 2- Jim Gray’s speech on eScience from the 4th paradigm of science
10/06 Data Catalogs and Data Engineering data engineering, preparation, integration, discovery, cataloguing, metadata, reproducibility, provenance TBA
10/08 Data as a First-Class Citizen economic properties of data, privacy, incentives, breaches, antitrust, nonrivalry, power assymetries Economic properties of data and the monopolistic tendencies of data economy: policies to limit an Orwellian possibility. 17 May 2020 by Hoi Wai Jackie Cheng ST/ESA/2020/DWP/164
10/13 Workshop 1: What’s the value of data? hands-on activities in the class  
10/15 The Value of Data: Macro perspective digital economy, growth functions, knowledge production 1- Big Data and Firm Dynamics. Farboodi, Mihet, Philippon, Veldkamp. 2019 2- Nonrivalry and the Economics of Data. Jones and Tonetti. Working paper August 2019. (Sections 1 and 2. Rest is optional)
10/20 The Value of Data: Firm perspective business value of data, assets, quasi-experiments 1- Does Machine Translation Affect International Trade? Brynjolfsson, Hui, Liu, 2018 2- The Impact of Big Data on Firm Performance: An Empirical Investigation. Bajari, Chernozhukov, Hortacsu.
10/22 Data Sharing data lakes, cloud, commons, data bartering, revenue allocation, incentives 1- Data Shapley: Equitable Valuation of Data for Machine Learning. Ghorbani, Zhou, ICML 2020 2- Efficient task-specific data valuation for nearest neighbor algorithms. Jia et. al. VLDB 2019
10/27 Workshop 2: Alternatives to the Shapley value hands-on activities in the class  
10/29 Data Markets and Marketplaces data brokers, data sharing agreements, data bartering, price finding 1- Markets for data. Pantelis Koutroumpis, Aija Leiponen, and Llewellyn D. W. Thomas 2- Common license types for datasets
11/03 Data Pricing why price data?, pricing models 1- A. Goldfarb and C. Tucker. Digital economics. Journal of Economic Literature, 57(1):3–43, March 2019 2- A Survey on Data Pricing: from Economics to Data Science. Jian Pei. 2020
11/05 Introduction to Mechanism Design truthfulness, incentive-compatibility, property of good mechanisms, auctions, posting prices TBA
11/10 Mechanism Design for Data nonrivaly, strategic participants, combinatorial power of data A Marketplace for Data: An Algorithmic Solution
11/12 Personal Data and Introduction to Privacy access, control, markets for privacy, contextual integrity
11/17 Markets for Privacy social value of data, value of private information, should personal data be sold? The Economics of Privacy. Alessandro Acquisti, Curtis Taylor, Liad Wagman. JOURNAL OF ECONOMIC LITERATURE VOL. 54, NO. 2, JUNE 2016 Read section 1, skim section 2, read section 3.0, 3.6, 3.8, read section 4.0, 4.2, 4.4. Skim the rest
11/19 Externality of Data externalities, public good, economics of social data Too much data: prices and inefficiencies in data markets”. Acemoglu, D, A Makhdoumi, A Malekian, and A Ozdaglar (2019), , NBER Working Paper No. 26296
11/24 Thanksgiving    
11/26 Thanksgiving    
12/01 Who Owns a Dataset? scraping, measuring, data exhaust, data as by-product of other activities, regulated industries, GDPR/CCPA “Data Strikes”: Evaluating the Effectiveness of a New Form of Collective Action Against Technology Companies. Vicent, Hecht, Sen, WWW’19
12/03 Data Unions, Cooperatives, and Dividends data as labor, digital empowerment of citizens, blockchain and decentralized authorities TBA
12/08 Project Presentations 1/2 project presentation and discussion TBA
12/10 Project Presentations 2/2 and Conclusions project presentation, discussion, and conclusion TBA