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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 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

Related research

Keywords: Trust Trustworthiness Game theory Adam Smith;

Other versions of this item:

Find related papers by JEL classification:

• C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
• Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
• B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

References

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