LEGAL UNDERSTANDING OF TRANSACTION COSTS

Purposes: This paper is devoted to the legal understanding of transaction costs both as a concept and a method developed within the framework of the institutional economics discipline for analyzing the consequences of various kinds arising from the exchange of goods. This work is relevant due to the need to apply new interdisciplinary methodological approaches to solving the problems that classical jurisprudence faces. The authors gave legalized concepts of transaction and transaction costs. Methods: As the main task within the framework of this paper, the authors proposed a classification of transaction costs, with the help of which it is possible to analyze legal activity in various fields. The study was based on the works of foreign and Russian scientists, economists and lawyers. Results: In the paper, the authors found that the classification of transaction costs used in economics was created only for analyzing relationships within substantive law and using them to analyze other legal relationships seems to be quite problematic. As a result of the study, the authors developed a new classification of transaction costs, which can be used both for the analysis of substantive and procedural law. Also, they focus on certain aspects of various transaction costs. Implications/Applications: In this regard, a problem arises in creating a classification that would take into account the advantages of all these approaches, and would also be suitable for describing both substantive and procedural legal relations. Novelty/Originality: The development of domestic and foreign legal science is impossible without the use of interdisciplinary approaches, including not only the interaction of intersectoral relations, and this article has studied this issue.