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Some users need to be paid over $1,000 to stop using Facebook for a year

By Cookie Monster - on 3 Jan 2019, 12:05am

Some users need to be paid over $1,000 to stop using Facebook for a year

Despite the numerous privacy concerns and its role in spreading fake news, people still value Facebook's service so much that you have to pay a high price to convince them not to use it. 

A joint study involving researchers from four different universities asked subjects what they would have to be paid to stop using Facebook for one day, three days, seven days and one year. To get an honest answer, the researchers really had to pay the subjects for the agreed-upon time period. 

The findings of the study reveal that the average amount to deactivate one's Facebook account for a day and three days were $4.17 and $13.89 respectively. The amount shot up to $37 for one week and when you extrapolate that to a year, it's a range of $1,139 to $2,076 based on different demographics.

"We found that consistently, on average, people would have to be paid more than $1,000 a year to go without Facebook," said Corrigan. It's the connectivity that adds the value, or what economics call network externality. "[Social networks] are more valuable the more people there are who use it, and this is the largest social network in the world." 

The reseachers emphasized the study is not suggesting that Facebook could actually start charging users $1,000 a year for using its service. They are only interested to "look at its value to society, specifically to the users". 

Source: Ars Technica via 9to5Mac