In 2006, LIRNEasia hopes to start a new line of research on the role ICTs play in reducing transaction costs in the economy. Our work will begin from research on Harsha de Silva’s Govi Gnana Service (GGS) project that seeks to provide real time information on market prices at Sri Lanka’s largest agricultural wholesale market. But it is interesting that the whole question of reducing transaction costs (at the high end) is receiving increased attention, as evidenced by the New York Times