<ul><li>This paper presents an approach for capturing the instrumental value of data production processes.</li><li>The approach considers the context of the agent's decision-making problem and prior data or information possessed.</li><li>In the domain of Bayesian linear regression, the value corresponds to information gain.</li><li>The study shows that achieving first-best revenue for data sales depends on the seller's ability to customize data requests.</li></ul>

An Instrumental Value for Data Production and its Application to Data Pricing

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