“The Design and Price of Information”, Dirk Bergemann, Alessandro Bonatti, Alex Smolin2018 ()⁠:

A data buyer faces a decision problem under uncertainty. He can augment his initial private information with supplemental data from a data seller.

His willingness to pay for supplemental data is determined by the quality of his initial private information. The data seller optimally offers a menu of statistical experiments.

We establish the properties that any revenue-maximizing menu of experiments must satisfy. Every experiment is a non-dispersed stochastic matrix, and every menu contains a fully informative experiment.

In the cases of binary states and actions, or binary types, we provide an explicit construction of the optimal menu of experiments.