Name Your Own Price on Data Marketplaces

A novel approach to pricing on data marketplaces is proposed, which is based on the Name Your Own Price (NYOP) principle: customers suggest their own price for a (relational) data product and in return receive a custom-tailored one. The result is a fair pricing scheme where sellers can achieve a higher revenue, while buyers receive a product which matches both their preferences and budget. NYOP is contrasted with previous research on view-based pricing on data marketplaces as well as on discount schemes to increase revenue.