Ex ante costs (before the conclusion of the agreement) | Ex post costs (after the conclusion of the agreement) |
Information search costs: costs of finding information about a potential partner and market situation; losses due to incompleteness and imperfection of the information received. | The costs of monitoring and preventing opportunism: the costs of monitoring the compliance with the terms of the agreement and preventing opportunism (evasion of these terms). |
Negotiation costs: the costs of negotiating the terms of the exchange and the choice of the form of the agreement. | The costs of specification and protection of property rights: the costs of arbitration; the costs of time and resources required to restore the rights violated during the performance of the contract. |
Shortcomings of measurement: costs required to measure the quality of the goods and services that make up the content of the agreement | Third party protection costs: costs of protection from third party claims for part of the beneficial effect of the transaction |
Third party protection costs: costs of protection from third party claims for part of the beneficial effect of the transaction |