The Value of Personal Data in Internet Commerce: A High-Stakes Field Experiment on Data Regulation Policy
Supplemental Material
The replication files for this article are available HERE.
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April 10, 2013 - June 5, 2026
Tianshu Sun
[email protected]https://orcid.org/0000-0002-9786-044X
Cheung Kong Graduate School of Business, Beijing 100006, China;Department of Data Sciences and Operations, Marshall School of Business, University of Southern California, Los Angeles, California 90089;
Corresponding Author
Zhe Yuan
[email protected]https://orcid.org/0000-0002-7502-9102
School of Economics, Future Regional Development Laboratory and Center for Research of Private Economy, Zhejiang University, Hangzhou 310058, China;
Tianshu Sun
[email protected]https://orcid.org/0000-0002-9786-044X
Cheung Kong Graduate School of Business, Beijing 100006, China;Department of Data Sciences and Operations, Marshall School of Business, University of Southern California, Los Angeles, California 90089;
Corresponding Author
Zhe Yuan
[email protected]https://orcid.org/0000-0002-7502-9102
School of Economics, Future Regional Development Laboratory and Center for Research of Private Economy, Zhejiang University, Hangzhou 310058, China;
The replication files for this article are available HERE.

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The authors gratefully acknowledge the helpful feedback of several academic and industry colleagues on this work. We also acknowledge Alibaba Group for support in making this research possible. Tianshu Sun wants to acknowledge financial support from CKGSB Research Institute.
