On the Dark Side of Reducing Transaction Costs: Development, Efficiency, Communication
( Pp. 127-133)

The purpose of this study is to examine the modern features of transaction costs and their impact on the efficiency of the economy. Based on the analysis of different approaches to the phenomenon of transaction costs the following conclusions were argued in the article. 1. The transition from the Gutenberg galaxy to the Zuckerberg galaxy has led to a decrease in some transaction costs and an increase in other transaction costs. 2. Algorithms of digital platforms significantly predetermine consumer choice. 3. The labor market will be in constant flux. This will lead to a significant increase in switching costs for many professionals. 4. Reduced trust and loyalty to digital technologies is in some measure related to the loss of face-to-face contact. 5. Reduced transaction costs are perceived not only as a boon, but also as: A threat to sustainable everyday practices, a prerequisite for reduced market competition, increased risks and crisis shocks in business and cybersecurity, increased bureaucracy in state institutions and corporations, increased property and information inequalities.

Kushnir A. M. On the Dark Side of Reducing Transaction Costs: Development, Efficiency, Communication // ECONOMIC PROBLEMS AND LEGAL PRACTICE. 2023. Vol. 19. № 3. P. 127-133. (in Russ.) DOI: 10.33693/2541-8025-2023-19-3-127-133. EDN XCYPOC

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institutional economics, transaction costs, institutional change, communication, information and communication technology, inequality, competition..