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Information and transactional costs under conditions of limited psychological resources of an economic subject


Alexander G. Furin, Victor L. Tarasov
(about the authors)

Furin Alexander G. – Candidate of Science, Economics, Associate Professor; Associate Professor, Chair of Economic Theory (Volga State University of Technology, Yoshkar-Ola)

Tarasov Victor L. – Candidate of Science, Economics, Associate Professor, Chair of Economic Theory (Volga State University of Technology, Yoshkar-Ola)

Published in:
Creative Economy
– Volume 10, Number 10 (October 2016)

JEL classification: D81, D82, L21

Keywords: asymmetry of information, information, informational economy, psychic resources, transactional costs


Citation:
Alexander G. Furin, Victor L. Tarasov (2016). Information and transactional costs under conditions of limited psychological resources of an economic subject. Creative Economy, 10(10), 1129–1138. doi: 10.18334/ce.10.10.36626


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Abstract:

The article reviews the issues concerning the information and transactional costs under condition of limited human psychological resources. In this study, at first, specific features of the modern stage of the social development are reviewed where the information is the most important industrial factor; at the second, this resource is characterized in combination with the subject's mind. The study determines the role of psychological resources of the mind that have the direct effect on obtaining, treatment and the use of information for taking managerial decisions. The conclusion is drawn that optimization of internal resources is the condition for rationalization of the subject's economic activity.







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