It takes $50 a month to convince people to give up Facebook, new research shows
How much do people value Facebook? By about $50 a month, according to a recent study of 2885 people by economists at the University of Groningen and the Massachusetts Institute of Technology.
The most valued service was search engines, with respondents giving a median of $17,530 as the price at which they would give up Internet searches for one year. This was followed by email ($8,414), and digital maps ($3,648). Video streaming such as YouTube and Netflix was valued at $1,173 a year. Online shopping was valued at $842, social media at $322, music at $168, and instant messaging at $155.
Value perceived from free products
‘Our study aims to measure how much value people perceive from free products like Facebook’, said said Felix Eggers, assistant professor at the Faculty of Economics and Business and an author of the working paper along with Erik Brynjolfsson and Avinash Gannamaneni from the Massachusetts Institute of Technology. You can read about their results in full on the FEB Blog.
________________________________________________
> More news from the Faculty of Economics and Business
> FEB experts in the media
![URL FEB](/feb/img/url_feb.png)
![AACSB EQUIS logos](/feb/img/equis-aacsb-witte-achtergrond-2.png)
Last modified: | 29 February 2024 10.02 a.m. |
More news
-
17 July 2024
Veni-grants for ten researchers
The Dutch Research Council (NWO) has awarded a Veni grant of up to €320,000 each to ten researchers of the University of Groningen and the UMCG. The Veni grants are designed for outstanding researchers who have recently gained a PhD.
-
08 July 2024
New collaboration between UGBS and Faculty of Spatial Sciences: education for professionals
Bringing together knowledge and experience will provide new educational opportunities for professionals working in a variety of organisations.
-
02 July 2024
Vocation or necessary evil?
It is important to know how employees perceive their jobs, as Milena Nikolova discovered. The Professor of Economics of Wellbeing distinguishes three different types of work motivations.