Some Economic Consequences of the GDPR

9 Pages Posted: 29 Apr 2018 Last revised: 27 May 2018

Darcy W E Allen

RMIT University

Alastair Berg

RMIT University - School of Economics, Finance and Marketing

Chris Berg

RMIT University - School of Economics, Finance and Marketing

Brendan Markey‐Towler

University of Queensland - School of Economics

Jason Potts

RMIT University

Date Written: May 23, 2018

Abstract

The EU General Data Protection Regulation (GDPR) is a wide ranging personal data protection regime of far greater magnitude than any similar regulation previously in the EU, or elsewhere. In this paper, we explore the ways in which regulation changes the value of data and examine the potential impact of the GDPR on data markets. We suggest that the GDPR may result in unintended consequences analogous to previous government interventions into capital markets and financial services. Novel financial products of unknown complexity and systemic risk – and secondary data derivative markets - may emerge as a result, which suggests that market driven technological solutions, such as those using blockchain or distributed ledger technology, should be further examined.

Keywords: Data Markets, Information Economics, Regulation, Financial Innovation, Blockchain

JEL Classification: D02, D52, D80, F61, K24, L5

Suggested Citation

Allen, Darcy and Berg, Alastair and Berg, Chris and Markey‐Towler, Brendan and Potts, Jason, Some Economic Consequences of the GDPR (May 23, 2018). Available at SSRN: https://ssrn.com/abstract=3160404 or http://dx.doi.org/10.2139/ssrn.3160404

Darcy Allen

RMIT University ( email )

440 Elizabeth Street
Melbourne, 3000
Australia

Alastair Berg (Contact Author)

RMIT University - School of Economics, Finance and Marketing ( email )

Level 12, 239 Bourke Street
Melbourne, Victoria 3000
Australia

Chris Berg

RMIT University - School of Economics, Finance and Marketing ( email )

Level 12, 239 Bourke Street
Melbourne, Victoria 3000
Australia

Brendan Markey‐Towler

University of Queensland - School of Economics ( email )

Brisbane, QLD 4072
Australia

Jason Potts

RMIT University ( email )

Register to save articles to
your library

Register

Paper statistics

Downloads
472
rank
54,979
Abstract Views
1,608
PlumX