Methodology for Measuring the Demand Geoinformation Transaction Costs: Based on Experiments in Berlin, Vienna and Zurich

Searching for geo-information and inquiring about the conditions of exchange involves transaction costs. Neoclassical economy neglects the existence of these costs and therefore lacks economic models which could be applied to geoinformation. We are interested in establishing theoretical foundations of transaction costs related to geo-information and in methods which could help to quantify these costs. The importance of this article is that this is to date the first attempt to measure the transaction cost of geo-information and at the same time it presents the first quantitative results. The research is novel and therefore in development. The presented methodology reflects our experiences gained in the selected cities of Berlin, Vienna and Zurich. We conclude the article with open questions and further research directions.