The data privacy field is currently in the moment of asking whether providing more control to the data subject can be a solution applicable in the real world for the protection of the right to privacy. The critics of a control-oriented approach base their arguments on the practical, conceptual and moral difficulties of the model, but mainly on the fact that the consent, as the main mechanism of control of the data subject, has so far proved to be impractical and inefficient. The objective of the following analysis is to restore the position of the concept of informed consent as the primary way of control for the data subject, while recognizing that to achieve such informed consent, the data subject must be provided with more suitable conditions. The implementation of said conditions demands to analyze the implications of the field of behavioral economics and legal economics in the data privacy scenario. The goal of implementing a behavioral economics perspective is to create a conscientious decision-making scenario for the users. This work will analyze a proposal for the creation of such a suitable scenario, first with implementing alternative ways to provide information to the data subject. Furthermore, the creation of such scenario requires shifting the model of exchange of data, by providing a value from a consumer’s perspective. It will be argued that this model may create awareness and responsibility but, at the same time, recognizes the paramount economic and social importance of data processing in the current state of development of the technology industry.