2005 value of 2005 value of DotEcon (2006) UK - value of open Bottom-up approach approximately £590 approximately $1.2 government data using case studies and million with a billion with a calculating the net How well the potential value of potential value of economic value of supply of open around £1.1 billion around $2.3 billion open government government data is per year (around per year (around data as the working for 0.1% of GDP) 0.1% of GDP) willingness to pay for customers it minus the cost of supplying it £1.8 billion $3.7 billion Deloitte (2013) UK - value of open Bottom-up (sensitivity analysis (sensitivity analysis government data methodology based to between £1.2 range between $2.5 to consumers, calculate the billion and £2.2 billion and $4.6 businesses and the economic value billion) in economic billion) in economic public sector in (based on the value, £6.2 billion and value, $12.9 billion 2011/12 DotEcon £7.2 billion (around and $14.0 billion methodology), case 1% of GDP) when (around 1% of GDP) studies to calculate including societal when including societal value value (2011 prices) societal value (2011 prices) Appendix B: Glossary of economic terms are a number of economic concepts in this report, but the list is by no means comprehensive. It should be noted that definitions may differ in different contexts, but the ones presented here are relevant for this report. Economic term Definition The phenomenon which the uninformed side of a deal gets exactly the wrong people trading with it Involves improving allocative and productive efficiency over time by developing new or better goods and services and finding better ways of producing goods and services When long-run average fall as output rises, costs are said to exhibit economies of scale When it is cheaper to produce two products together in one firm instead of separately in two specialised firms, costs are said to exhibit economies of scope A situation in which one person’s behaviour affects the welfare of another in a way that is outside existing markets Expenditure on factors that are fixed A situation in which one side of an economic relationship has better information than the other
DotEcon (2006) UK - value of open government data How well the supply of open government data is working for customers Bottom-up approach using case studies and calculating the net economic value of open government data as the willingness to pay for it minus the cost of supplying it 2005 value of approximately £590 million with a potential value of around £1.1 billion per year (around 0.1% of GDP) 2005 value of approximately $1.2 billion with a potential value of around $2.3 billion per year (around 0.1% of GDP) Deloitte (2013) UK - value of open government data to consumers, businesses and the public sector in 2011/12 Bottom-up methodology based to calculate the economic value (based on the DotEcon methodology), case studies to calculate societal value £1.8 billion (sensitivity analysis between £1.2 billion and £2.2 billion) in economic value, £6.2 billion and £7.2 billion (around 1% of GDP) when including societal value (2011 prices) $3.7 billion (sensitivity analysis range between $2.5 billion and $4.6 billion) in economic value, $12.9 billion and $14.0 billion (around 1% of GDP) when including societal value (2011 prices) Appendix B: Glossary of economic terms are a number of economic concepts in this report, but the list is by no means comprehensive. It should be noted that definitions may differ in different contexts, but the ones presented here are relevant for this report. Economic term Definition The phenomenon which the uninformed side of a deal gets exactly the wrong people trading with it Involves improving allocative and productive efficiency over time by developing new or better goods and services and finding better ways of producing goods and services When long-run average fall as output rises, costs are said to exhibit economies of scale When it is cheaper to produce two products together in one firm instead of separately in two specialised firms, costs are said to exhibit economies of scope A situation in which one person’s behaviour affects the welfare of another in a way that is outside existing markets Expenditure on factors that are fixed A situation in which one side of an economic relationship has better information than the other
BCR%20Assessment%20of%20Economic%20Benefits%20of%20Open%20Govt%20Data%20Report%20V29%202....docx