For obtaining an honest valuation of PII, we use a reverse second price auction. In this work, we rely on refined Experience Sampling - a data collection method that probes users to valuate their PII at the time and place where it was generated in order to minimize retrospective recall and hence increase measurement validity. Extracting valuations of PII from users is non-trivial - surveys cannot be relied on as they do not gather information of the context where PII is being released, thus reducing validity of answers.
Although studies have tried to discover how users value their privacy, little is known about how users value their PII while browsing, or the exploitation of their PII. Against this backdrop of economic exploitation of PII, it is vital to understand the value that users put to their own PII. Most online service providers offer free services to users and in part, these services collect and monetize personally identifiable information (PII), primarily via targeted advertisements.
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