Relationship contract in the national market of higher education

Theoretical views on the essence of the national market of higher education are expanded in the context of the theory of relationship contracts based on the analysis of classical, neoclassical and institutional concepts. The specific features of the higher education market are systemized. They exert influence on the pattern of interactions between main stakeholders and on the formation of relationship contracts. The contract in the market of higher education is considered as a social relationship, structured by a set of formal and informal rules that coordinate the exchange of rights between actors of the higher education market. The essential characteristics of relationship contracts are analyzed in respect to the national higher education market. The functional value of trust is identified in terms of the economy and risk parameters for the formation and change of a degree of belief are defined. The importance of the phenomenon of “generalized trust” - confidence in the expert systems, one of which is the higher education system is emphasized. The institutional trust is considered as a mechanism for coordinating stakeholders of the higher education market. The presented analysis makes it possible to simulate the structure of the investigated market, taking into account the characteristics of formal and informal institutions of the higher education institutional environment.