Algorithmic governance and the need for consumer empowerment in data-driven markets

The present article argues that the fact that personal data holds great value, in combination with a lack of transparency in its commercial use, leads to a need for consumer policy that strengthens consumer protection. The widespread practice of user agreements and consent-based regulation of personal data collection is not satisfactory for balancing these information-asymmetric markets. The lack of transparency deriving from the complex and massive datafication of consumers -where consumers are profiled, data is brokered and the algorithmically automated decision-making is opaque -speaks to the need for improved supervision at a more structural level above and beyond the individual consumer's choices, preferably by more active consumer protection authorities.