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Whom do you distrust and how much does it cost? An experiment on the measurement of trust

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  • McEvily, Bill
  • Radzevick, Joseph R.
  • Weber, Roberto A.

Abstract

We advance the measurement of trust in economics in two ways. First, we highlight the importance of clearly identifying the target of trust, particularly for obtaining concordance between attitudinal and behavioral measures of trust. Second, we introduce a novel behavioral measure of (dis)trust, based on individualsʼ willingness to pay to avoid being vulnerable to the target of trust. We conduct an experiment in which we vary the target of trust among passersby at several locations around a city, measuring both behavioral distrust and trust attitudes towards these varying targets. We find that subjects discriminate based on perceived characteristics of different targets in determining whether to trust, in a manner consistent with trust elicited using attitudinal measures and with actual trustworthiness. Risk aversion and altruism do not correlate highly with our measure of distrust.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 74 (2012)
Issue (Month): 1 ()
Pages: 285-298

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Handle: RePEc:eee:gamebe:v:74:y:2012:i:1:p:285-298

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Web page: http://www.elsevier.com/locate/inca/622836

Related research

Keywords: Trust; Trustworthiness; Altruism; Experiment;

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References

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Cited by:
  1. Giuseppe Albanese & Guido de Blasio & Paolo Sestito, 2013. "Trust and preferences: evidence from survey data," Temi di discussione (Economic working papers) 911, Bank of Italy, Economic Research and International Relations Area.
  2. Falk, Armin & Zehnder, Christian, 2013. "A city-wide experiment on trust discrimination," Journal of Public Economics, Elsevier, vol. 100(C), pages 15-27.

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