The ethics of data and of data science: an economist's perspective

Data collection and modelling are increasingly important in social science and science-based policy, but threaten to crowd out other ways of thinking. Economists recognize that markets embody and shed light on human sentiments. However, their ethical consequences have been difficult to interpret, le...

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Bibliographic Details
Published in:Philosophical transactions of the Royal Society of London. Series A: Mathematical, physical, and engineering sciences physical, and engineering sciences, 2016-12, Vol.374 (2083), p.20160117
Main Author: Cave, Jonathan
Format: Article
Language:English
Subjects:
Algorithmic Regulation
Complexity
Data Analytics
Endogeneity
Ethics
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Summary:Data collection and modelling are increasingly important in social science and science-based policy, but threaten to crowd out other ways of thinking. Economists recognize that markets embody and shed light on human sentiments. However, their ethical consequences have been difficult to interpret, let alone manage. Although economic mechanisms are changed by data intensity, they can be redesigned to restore their benefits. We conclude with four cautions: if data are good, more may not be better; scientifically desirable data properties may not help policy; consent is a double-edged tool; and data exist only because someone thought to capture and codify them. This article is part of the themed issue ‘The ethical impact of data science’.
ISSN:1364-503X
1471-2962
DOI:10.1098/rsta.2016.0117