DOI: 10.33917/mic-2.127.2026.98-111

The mechanism of cyclical interaction of institutions of budgetary, tax and monetary policy is revealed, as a result of which there is an initially unpredictable misalignment between formally logical decisions of individual regulators obtained within the framework of the traditional axiom of transitivity as a key criterion of rationality of actions. The emergence of these cycles, known as «institutional traps», is due to the objective non-transitivity of external and internal preference or superiority relationships between the institutions and their elements. The essence of «institutional traps» is that improving the performance of one institution can lead to a negative impact on the performance of another institution, and vice versa. Such «institutional traps» can create initially unpredictable threats to a country’s economic security, reducing the effectiveness of public administration. The article presents a theoretical model of the non-transitivity of preference relations between institutions of macroeconomic regulation, and identifies ways to reduce the level of risks associated with the negative manifestation of the non-transitivity of these relations.

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