The Benefits of Open Data (part II) – Impact on Economic Research | Open Economics
"A couple of weeks ago, I wrote the first part of the three part series on Open Data in Economics. Drawing upon examples from top research that focused on how providing information and data can help increase the quality of public service provision, the article explored economic research on open data. In this second part, I would like to explore the impact of openness on economic research... The main economic argument in favour of open data is gains from trade. These gains come in several dimensions: First, open data helps avoid redundancy.... Second, open data ensures the most efficient allocation of scarce resources – in this case datasets... Finally, and perhaps most importantly, open data – by increasing transparency – also fosters scientific rigour...