The previous chapter presented the Privacy Management Model (PMM), which is a tool to manage personal data in the ICT systems of online service providers by data subjects. It gives individuals the capacity to steer their own privacy processes by deciding what data about them are collected and how they are used. However, this model needs to be implemented in the context of actual online services in their ‘data markets'. As explained, this implementation should also help to correct market failure and overcome existing competition problems.

This chapter needs to bring these theories into a viable ‘business model’ in which PMM is applied as a countermeasure to architectural and informational imbalances. As Chapter 3 explained how ‘data markets’ operate, now it is time to show how they can be influenced towards effective privacy management. This is presented in two steps. First, section 1 shows the current state of market competition and discusses what they lack in order to provide data subjects with more effective privacy management. Second, section 2 presents the set of market regulatory tools that aim to put service providers and data subjects in more equal positions. To that end, it presents a model in which Personal Information Administrators (PIAs), a third party, are involved to help data subjects to understand and manage the privacy process. It also shows other measures that are important for balancing their relationship with online service providers: introducing data portability, increasing their ‘data sensitivity’ by providing ‘smart’ transparency and expertise, and, last but not least, securing data subjects from uncontrolled tracking, in which their data ‘leak’ to undisclosed parties.

COULD ‘DATA MARKETS’ INTRODUCE PRIVACY MANAGEMENT BY THEMSELVES?

A market mechanism is often deemed to be an efficient method of distribution of goods that can regulate itself. Such a ‘hands-off’ approach is linked to neoliberal theories associated with the so-called Chicago school of economics. But, as discussed in the previous chapters, this does not work well for privacy in ‘data markets'. Now it is the time to discuss why and to identify the characteristics of those markets responsible for problems. As ‘data markets’ support the creation of the largest global companies,2 the first task is to verify whether they are competitive.