Keyword: «transaction costs»

The paper is devoted to the issues of transaction costs of public procurement for the needs of higher edu-cational institutions (on the example of the Penza University). The authors attempt to describe and estimate the level of transaction costs of open e-auction.

The article is concerned with the problem of increasing the efficiency of the franchising institution in Russia due to the development of the institutional environment. The author reveals the peculiarities of the franchising institution from the point of view of the hybrid form of contract coordination. A classification of five types of transaction costs is presented, helping to reduce the risks of franchising relationships between the franchisor and the franchisee. The current characteristic of the structure and role of the Russian franchise market in the economy of our country is given. The conclusions made by the author concerning tools for increasing the effectiveness of franchising contracts are confirmed by the research results of the practical work carried out at the Institute of Economics and Law of Petrozavodsk State University from 2015-2018.

The timeliness of the study stems from the fact that the effectiveness of formal institutions determines the economic well-being of a country. The purpose of the article is to identify the role and functions of formal institutions in the context of Coase’s theorem. The study concluded that in the case of high transaction costs, formal institutions should play a key role in economic exchange, ensuring the transfer of property rights to the most effective agent. In the case of low transaction costs, formal institutions should provide the most favorable conditions for the voluntary exchange of property rights.