STRATEGIC TRANSACTION COST OPTIMIZATION IN THE ARAL SEA REGION'S AGRICULTURE

Abstract

Summary: The article discusses strategic approaches to mitigate transaction costs in agriculture within the Aral Sea region's challenging environment. It emphasizes the importance of integrating advanced forecasting and water-efficient practices to adapt to water scarcity. The use of digital platforms is highlighted as a means to streamline transactions and connect farmers directly with consumers. Local cooperation through cooperatives is recommended to share resources and reduce individual expenses.

The theory of transaction costs, developed by Ronald Coase and further developed by Oliver Williamson, plays an important role in analysing economic relations and decision-making in the digital economy. In the era of digitalisation, as business models and market transactions move to the online space, understanding and managing transaction costs becomes particularly relevant.