Replication data for: The Value of US Government Data to US Business Decisions
Principal Investigator(s): View help for Principal Investigator(s) Ellen Hughes-Cromwick; Julia Coronado
Version: View help for Version V1
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Project Citation:
Hughes-Cromwick, Ellen, and Coronado, Julia. Replication data for: The Value of US Government Data to US Business Decisions. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114024V1
Project Description
Summary:
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The US government is a major producer of economic and financial data, statistics, analysis, and forecasts that are gathered, compiled, and published as public goods for use by citizens,
government agencies, researchers, nonprofits, and the business community. There is no market transaction in the publication and dissemination of these government data and therefore no
market-determined value. The purpose of this paper is to outline and augment our understanding of the value of government data for business decision-making. We provide an overview of the
topic, including results from government reports and a private sector survey. We then provide concrete examples of how these government data are used to make business decisions focusing on
three sectors: automotive, energy, and financial services. Examples of new initiatives by the federal government to open access to more data, exploiting technology advances associated with the
internet, cloud storage, and software applications, are discussed. With the significant growth in the digital economy, we also include discussion and insights around how digital platform
companies utilize government data in conjunction with their privately generated data (or "big data") to foster more informed business decisions.
Scope of Project
JEL Classification:
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C55 Large Data Sets: Modeling and Analysis
C80 Data Collection and Data Estimation Methodology; Computer Programs: General
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
M15 IT Management
L62 Automobiles; Other Transportation Equipment; Related Parts and Equipment
L94 Electric Utilities
L95 Gas Utilities; Pipelines; Water Utilities
C55 Large Data Sets: Modeling and Analysis
C80 Data Collection and Data Estimation Methodology; Computer Programs: General
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
M15 IT Management
L62 Automobiles; Other Transportation Equipment; Related Parts and Equipment
L94 Electric Utilities
L95 Gas Utilities; Pipelines; Water Utilities
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