Research on the Theoretical Framework of Market-based Allocation of Data Elements

Abstract

With the advent of the digital economy era, data is increasingly valued as a new factor of production, and the market-based allocation of data elements is an important part of promoting high-quality economic development. Based on the summary of the basic nature and characteristics of data elements, this paper proposes a theoretical model for the market-based allocation of data elements. The article analyzes the four aspects of property rights definition, value assessment, circulation and transaction, and income distribution of data elements, and elaborates on the theoretical and practical problems existing in the market-based allocation of data elements. The article argues that data elements are non-competitive, with increasing returns to scale and strong externalities, which are different from traditional factors of production and pose new challenges to traditional factor market theories. This paper innovatively presents a theoretical framework for market-based allocation of data elements, including a hierarchical data property rights confirmation mechanism, a dynamic value assessment model, and a multi-party collaborative governance framework, and proposes corresponding countermeasures and suggestions for problems such as difficult data rights confirmation, difficult pricing, and difficult trading. The study suggests that to achieve a good market-based allocation of data elements, it is necessary to improve the data property rights system, cultivate the data element market, enhance the efficiency of data resource allocation on the basis of safeguarding personal privacy and protecting data security, give full play to the guiding role of the government, the decisive role of the market, and the joint efforts of all parties to maximize the value of data elements. To boost the quality and efficiency of the real economy.