Cost in GI Product Transaction.
Alenka Krek (2004): Cost in GI Product Transaction. Role of Institutions, Electronic Networks and Metadata In: GIM International, The Worldwide Magazine for Geomatics. January 2004, Volume 187, Number 1, GITC publications, The Netherlands
An exchange of a geoinformation product 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 buyer of the
geoinformation product is the key to the cost of transacting. The seller should be
aware of the transaction cost and offer geoinformation pruducts in such a way as to
reduce them for the buyer.