''Videotex systems create opportunities for individuals to exercise much greater choice over the information available to them,'' the researchers wrote. ''Individuals may be able to use videotex systems to create their own newspapers, design their own curricula, compile their own consumer guides.

''On the other hand, because of the complexity and sophistication of these systems, they create new dangers of manipulation or social engineering, either for political or economic gain. Similarly, at the same time that these systems will bring a greatly increased flow of information and services into the home, they will also carry a stream of information out of the home about the preferences and behavior of its occupants.'' Social Side Effects

The report stressed what it called ''transformative effects'' of the new technology, the largely unintended and unanticipated social side effects. ''Television, for example, was developed to provide entertainment for mass audiences but the extent of its social and psychological side effects on children and adults was never planned for,'' the report said. ''The mass-produced automobile has impacted on city design, allocation of recreation time, environmental policy, and the design of hospital emergency room facilities.''

Such effects, it added, were likely to become apparent in home and family life, in the consumer marketplace, in the business office and in politics.

Widespread penetration of the technology, it said, would mean, among other things, these developments:

- The home will double as a place of employment, with men and women conducting much of their work at the computer terminal. This will affect both the architecture and location of the home. It will also blur the distinction between places of residence and places of business, with uncertain effects on zoning, travel patterns and neighborhoods.

- Home-based shopping will permit consumers to control manufacturing directly, ordering exactly what they need for ''production on demand.''

- There will be a shift away from conventional workplace and school socialization. Friends, peer groups and alliances will be determined electronically, creating classes of people based on interests and skills rather than age and social class.

- A new profession of information ''brokers'' and ''managers'' will emerge, serving as ''gatekeepers,'' monitoring politicians and corporations and selectively releasing information to interested parties.

- The ''extended family'' might be recreated if the elderly can support themselves through electronic homework, making them more desirable to have around. Political Power Shift

The blurring of lines between home and work, the report stated, will raise difficult issues, such as working hours. The new technology, it suggested, may force the development of a new kind of business leader. ''Managing the complicated communication in networks between office and home may require very different styles than current managers exhibit,'' the report concluded.

The study also predicted a much greater diversity in the American political power structure. ''Videotex might mean the end of the twoparty system, as networks of voters band together to support a variety of slates - maybe hundreds of them,'' it said.

Copies of the report, titled ''Teletext and Videotex in the United States,'' were scheduled to be available after June 28 from McGraw-Hill Publications, 1221 Avenue of the Americas, New York, N.Y. 10020.