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CMSC-33580-1

The Value of Data

Schedule

Please, check out this schedule frequently as it will likely change a bit throughout the quarter. In addition, I will post readings for each week the previous week.

Date Lecture Keywords Readings
09/30 The value of data and data markets introductions, administrivia, grading criteria, what is a data market, what is the value of data, economics of data, privacy, incentives 1-.Carriere-Swallow, Mr Yan, and Mr Vikram Haksar. The economics and implications of data: an integrated perspective. International Monetary Fund, 2019. 2-. Jeannette Wing. The Data Life Cycle. HDSR, 2019.
10/07 Data value chains and data as a “first-class citizen” economic properties of data, privacy, acquisition, preparation, metadata management, data catalogs 1-. Nithya Sambasivan, Shivani Kapania, Hannah Highfill, Diana Akron, Praveen Paritosh, Lora M Aroyo. “Everyone wants to do the model work, not the data work”: Data Cascades in High-Stakes AI. CHI, 2021. 2-. Stephen Stigler. Data Have a Limited Shelf Life. HDSR, 2019. 3-. Christine L. Borgman. The Lives and After Lives of Data. HDSR, 2019. 4-. Timnit Gebru, Jamie Morgenstern, Briana Vecchione, Jennifer Wortman Vaughan, Hanna Wallach, Hal Daumé III, Kate Crawford. Datasheets for Datasets. Arxiv. 2018
10/14 Workshop day (optional) Elicitation mechanisms in practice IDEAL Workshop: Elicitation mechanisms in practice. Part of the special quarter on Data Economics
10/21 Value of Information or the Value of Data for Decision Making Information Structures, Information Economics, Statistical Decision Making 1-. Gerald Feltham. The Value of Information. The Accounting Review. 1968 2-. Christian Gollier. The Economics of Risk and Time - (Only Chapter 23. The Value of Information). 1999 3-. Patrick Bajari, Victor Chernozhukov, Ali Hortaçsu, Junichi Suzuki. The Impact of Big Data on Firm Performance: An Empirical Investigation AEA 2019
10/28 The value of data and its connection to Machine Learning machine learning, relationship between decision making and prediction, instrumental value of training data, shapley value and revenue allocation, the (new) new data economy 1-. Eric Breck, Neoklis Polyzotis, Sudip Roy, Steven Euijong Whang, Martin Zinkevich Data Validation for Machine Learning SysML 2019. 2-. Gavin Brown, Adam Pocock, Ming-Jie Zhao, Mikel Lujan Conditional Likelihood Maximisation: A Unifying Framework for Information Theoretic Feature Selection JMLR 2012 3-. Amirata Ghorbani, James Zou, Data Shapley: Equitable Valuation of Data for Machine Learning ICML 2019
11/04 Data Sharing and Organization data sharing architectures, the value of pooling data, compliance and security, privacy and externalities, data warehousing, lakes, and knowledge graphs, data mesh and other organization methods 1-. Data Warehouse–Wikipedia 2-. Michael Armbrust, Ali Ghodsi, Reynold Xin, Matei Zaharia Lakehouse: A New Generation of Open Platforms that Unify Data Warehousing and Advanced Analytics CIDR 2021 3-. Zhamak Dehghani How to Move Beyond a Monolithic Data Lake to a Distributed Data Mesh
11/11 Data Markets and the New Data Economy definition of data market, types and examples of data markets, definition of the data economy, incentive engineering, informing models with data, loop between design and implementation TBD
11/18 Theoretical Data Markets, Data Pricing, and other Issues game theory, mechanism design, data pricing 1-. Anish Agarwal, Munther Dahleh, Tuhin Sarkar A Marketplace for data: an algorithmic solution EC 2019 2-. Charles Jones, Christopher Tonetti, Nonrivalry and the Economics of Data American Economic Review. September 2020
11/25 Thanskgiving  
12/02 Data Governance and the Opportunity of Well-Functioning Data Markets unions, trusts, cooperations, dividends, data federalism, data-as-labor 1-. Mozilla Insights, Jonathan van Geuns, Ana Brandusescu What Does it Mean? Shifting Power Through Data Governance Mozilla Foundation September 2020 2-. Data for Empowerment 3-. Sylvie Delacroix, Neil D Lawrence. Bottom-up data Trusts: disturbing the ‘one size fits all’ approach to data governance. International Data Privacy Law, Volume 9, Issue 4, November 2019 4-. TBD
12/09 Project Presentations. Summary and Wrap up Students present quarter projects, peer evaluation