Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/339534 
Year of Publication: 
2026
Citation: 
[Journal:] Theoretical and Practical Research in the Economic Fields [ISSN:] 2068–7710 [Volume:] 17 [Issue:] 1 [Article No.:] 5 [Publisher:] ASERS [Place:] Craiova [Year:] 2026 [Pages:] 58-66
Publisher: 
ASERS, Craiova
Abstract: 
In his study of the modern firm Oliver Williamson proposes the concept of opportunism as the reason for vertical integration. Williamson divides opportunism conditionally into ex ante and ex post opportunism by analogy with his classification of transaction costs as ex ante transaction costs incurred prior to concluding the deal and ex post transaction costs, which arise after that. Ex ante screening can prevent ex post opportunism. Opportunism is a synonym of fraud in the market game. It is the practice of cheating, lying or stealing in business relations. It is very common in some cultures and societies which hampers prosperity and economic progress.
Subjects: 
opportunism
transaction costs
Oliver Williamson
new institutional economics
JEL: 
D23
D82
O10
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version
Appears in Collections:

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.