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The Impact of Payoff Interdependence on Trust and Trustworthiness

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  • Werner Güth
  • M. Vittoria Levati
  • Matteo Ploner

Abstract

In one-shot investment games where each player's payoff is a convex combination of own and other's profit, we measure trust by the amount given to the trustee and trustworthiness by the amount returned to the trustor by the trustee. Does the degree of payoff interdependence increase both trust and trustworthiness or one but not the other or neither of them? According to our experimental data, trust remains unaffected by the extent of interdependence whereas trustworthiness reacts positively to it. Copyright Verein für Socialpolitik and Blackwell Publishing Ltd. 2008.

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Bibliographic Info

Article provided by Verein für Socialpolitik in its journal German Economic Review.

Volume (Year): 9 (2008)
Issue (Month): (02)
Pages: 87-95

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Handle: RePEc:bla:germec:v:9:y:2008:i::p:87-95

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References

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  1. Bellemare, Charles & Kröger, Sabine, 2004. "On Representative Social Capital," IZA Discussion Papers 1145, Institute for the Study of Labor (IZA).
  2. Andreas Ortmann & John Fitzgerald & Carl Boeing, 2000. "Trust, Reciprocity, and Social History: A Re-examination," Experimental Economics, Springer, vol. 3(1), pages 81-100, June.
  3. James Jr., Harvey S., 2002. "The trust paradox: a survey of economic inquiries into the nature of trust and trustworthiness," Journal of Economic Behavior & Organization, Elsevier, vol. 47(3), pages 291-307, March.
  4. Gneezy, Uri & Güth, Werner & Verboven, Frank, 1998. "Presents or investments? An experimental analysis," SFB 373 Discussion Papers 1998,56, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  5. Guerra, Gerardo & John Zizzo, Daniel, 2004. "Trust responsiveness and beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 55(1), pages 25-30, September.
  6. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
  7. Werner Güth & Matteo Ploner & Vittoria Levati, . "The Effect of Group Identity in an Investment Game," Papers on Strategic Interaction 2005-06, Max Planck Institute of Economics, Strategic Interaction Group.
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  9. Bellemare, C. & Kroger, S., 2003. "On Representative Trust," Discussion Paper 2003-47, Tilburg University, Center for Economic Research.
  10. Guth, Werner & Nikiforakis, Nikos & Normann, Hans-Theo, 2007. "Vertical cross-shareholding: Theory and experimental evidence," International Journal of Industrial Organization, Elsevier, vol. 25(1), pages 69-89, February.
  11. Harvey James, 2002. "The Trust Paradox: A Survey of Economic Inquiries Into the Nature of Trust and Trustworthiness," Microeconomics 0202001, EconWPA.
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  13. Cox, James C., 2004. "How to identify trust and reciprocity," Games and Economic Behavior, Elsevier, vol. 46(2), pages 260-281, February.
  14. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
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Cited by:
  1. Menkhoff, Lukas & Schmeling, Maik & Schmidt, Ulrich, 2008. "Are all professional investors sophisticated?," Hannover Economic Papers (HEP) dp-397, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
  2. Declerck, Carolyn H. & Kiyonari, Toko & Boone, Christophe, 2009. "Why do responders reject unequal offers in the Ultimatum Game? An experimental study on the role of perceiving interdependence," Journal of Economic Psychology, Elsevier, vol. 30(3), pages 335-343, June.

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