1. A computer program product for transactional lock elision, the computer program product comprising: a computer readable hardware storage device containing computer executable program code stored thereon, the computer executable program code comprising: computer executable program code for initiating a transactional lock elision transaction containing a critical section; computer executable program code for executing the transactional lock elision transaction including the critical section; computer executable program code for checking a status of a lock prior to a commit point in the transactional lock elision transaction executing, wherein the checking the status occurs after processing the critical section; computer executable program code for determining whether the status of the lock checked is free; computer executable program code responsive to a determination the lock checked is free, for committing a result of the transactional lock elision transaction; computer executable program code for calculating a cost associated with checking the lock; computer executable program code for analyzing the cost using an expression of Probability(lock_read_early/late_by_THREAD1 
 collides_with_lock_held_by_THREAD2)*(overhead_failing_TLE_transaction+wasted_work_done_inside_TLE_transaction); and computer executable program code for identifying one of a lock read early or a lock read late using a result of the cost analyzing.