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How Can the Data Economy Be Regulated to Promote New Emerging Markets?

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Drexl,  Josef
MPI for Innovation and Competition, Max Planck Society;

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Abstract
In the new digital economy the problem of data protection is not only heatedly debated but also has become the subject of academic research. New business models are emerging based on the current digital transformation of manufacturing and the digital transformation of many smart products. These smart products, such as autonomous cars, collect a huge number of data. The question arises: Who owns the data and how should the access to these data be regulated? JOSEF DREXL is interested in the future regulation of the data economy and explores the question of how we can generate or enable markets to emerge that are built on the use of data. As he explains in this video, his research group suggests – based on their analysis of the workings of the market – that the concept of ownership is not needed in this context and that a targeted access to property rights should be introduced into the regulations.