What are transaction costs and why do they matter?
Alenka Krek (2003): What are transaction costs and why do they matter? In: Proceedings of 6th AGILE 2003, Lyon, April 24-27, Lyon, France
An exchange of geographic data is a transaction and involves transaction cost. Transaction costs consist of the cost of measuring valuable attributes of what is being exchanged and the cost of protecting rights, policing and enforcing agreements. The costliness of information of what has been offered to the potential users of a geographic dataset is the key to the cost of transacting. The geographic dataset seller should be aware of the transaction cost and offer the dataset in such a way as to reduce them for the potential buyer.
