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Researchers from the University of Michigan, Tufts University and Ohio’s Kenyon College published the study in science journal PLOS ONE. They used a series of auctions to determine the minimum dollar amount people would accept to stop using Facebook for certain lengths of time.
1,143 participants took part in the experiment, which showed the average price for giving up the social network for one hour was $1.84. One day would cost $6.01; it’s $15.73 for three days, and $38.83 for a week.
It seems leaving Facebook for an entire year is something the participants weren't willing to do unless paid at least $1000. “Though the populations sampled and the auction design differ across the experiments, we consistently find the average Facebook user would require more than $1000 to deactivate their account for one year,” reads the report summary.
The researchers were surprised to see the difference between how much users value Facebook compared to shareholders—each person on the platform has a value to investors of around $250.
One thing to note about the study is that it took place before the recent allegations over Facebook giving partners access to users’ messages. But it seems most people value the benefits of the social network over any privacy concerns.
Not only have Google searchers for “how to delete Facebook” spiked this year, but famous names are also publicly declaring they’re leaving the platform, including famed tech reported Walt Mossberg.
1/ Some personal news: I've decided to quit Facebook around the end of the year. I am doing this - after being on Facebook for nearly 12 years - because my own values and the policies and actions of Facebook have diverged to the point where I’m no longer comfortable there.— Walt Mossberg (@waltmossberg) December 17, 2018
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