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Trust responsiveness. On the dynamics of fiduciary interactions

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  • Pelligra, Vittorio

Abstract

Trust and trustworthiness are key elements, both at the micro and macro level, in sustaining the working of modern economies and their institutions. However, despite its centrality, trust continues to be considered as a "conceptual bumblebee", it works in practice but not in theory. In particular, its behavioural rationale still represents a puzzle for traditional rational choice theory and game theory. In this paper "trust responsiveness", an alternative explanatory principle that can account for trustful and trustworthy behaviour, is proposed. Such principle assumes that people can be motivated to behave trustworthily by trustful actions. The paper discusses the philosophical roots, the historical development, as well as the relational nature of this principle as well as its theoretical implications.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

Volume (Year): 39 (2010)
Issue (Month): 6 (December)
Pages: 653-660

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Handle: RePEc:eee:soceco:v:39:y:2010:i:6:p:653-660

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Web page: http://www.elsevier.com/locate/inca/620175

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Keywords: Trust Trustworthiness Game theory Adam Smith;

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References

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  1. McCabe, Kevin A. & Rigdon, Mary L. & Smith, Vernon L., 2003. "Positive reciprocity and intentions in trust games," Journal of Economic Behavior & Organization, Elsevier, vol. 52(2), pages 267-275, October.
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  12. Ernst Fehr & John A. List, 2004. "THE HIDDEN COSTS AND RETURNS OF INCENTIVES — TRUST AND TRUSTWORTHINESS AMONG CEOs," Labor and Demography 0409012, EconWPA.
  13. V. Pelligra & A. Isoni & R. Fadda & I. Doneddu, 2010. "Social Preferences and Perceived Intentions. An experiment with Normally Developing and Autistic Spectrum Disorders Subjects," Working Paper CRENoS 201010, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  14. Vittorio Pelligra, 2011. "Intentions, Trust and Frames: A Note on Sociality and the Theory of Games," Review of Social Economy, Taylor & Francis Journals, vol. 69(2), pages 163-188.
  15. Hume, David, 1740. "A Treatise of Human Nature (III) Of Morals," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 3, number hume1740.
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Citations

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Cited by:
  1. Monti, Marco & Pelligra, Vittorio & Martignon, Laura & Berg, Nathan, 2014. "Retail investors and financial advisors: New evidence on trust and advice taking heuristics," Journal of Business Research, Elsevier, vol. 67(8), pages 1749-1757.
  2. Rodet, Cortney Stephen, 2013. "Seniority, Information and Electoral Accountability," MPRA Paper 49863, University Library of Munich, Germany.

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