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Trustworthiness As An Economic Asset

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  • Wilson, Paul N.
  • Kennedy, Ana M.

Abstract

The evaluation of trust in economic decision making remains on the periphery of mainstream economic analysis and teaching. Yet business managers use trustworthiness in daily exchanges to create competitive advantages for their firms. An exploratory empirical test of Barney and Hansen's three levels of trust (weak, semistrong, and strong) and Lewicki and Bunker's portfolio of governance mechanisms revealed that strong-form trust exists in day-to-day business relationships along with other governance mechanisms. Identity-based transactions were more prevalent than were weak trust market exchanges in important economic transactions.

Suggested Citation

  • Wilson, Paul N. & Kennedy, Ana M., 1999. "Trustworthiness As An Economic Asset," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 2(2), pages 1-15.
    • Handle: RePEc:ags:ifaamr:34213
    DOI: 10.22004/ag.econ.34213
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    References listed on IDEAS

    as
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    Cited by:

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    3. Robison, Lindon J. & Schmid, A. Allan & Barry, Peter J., 2002. "The Role of Social Capital in the Industrialization of the Food System," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(1), pages 1-10, April.
    4. Jose Blandon & Spencer Henson & John Cranfield, 2009. "Small-scale farmer participation in new agri-food supply chains: Case of the supermarket supply chain for fruit and vegetables in Honduras," Journal of International Development, John Wiley & Sons, Ltd., vol. 21(7), pages 971-984.
    5. Li, Kai & Li, Qi, 2022. "Social embeddedness and agricultural technology diffusion from the perspective of scale differentiation – a case study from China," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 26(1), August.
    6. Morrow, J.L., Jr. & Joyce, Richard Patrick, III & McMahon, William J. & DeMaia, Antonio M. & McVicker, S. Caleb & Parsons, Ashley E. & Wilcox, Kristin, 2017. "Cooperation among Ugandan farmers: cultivating social capital," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 20(5).

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