Trust Responsiveness: On the Dynamics of Fiduciary Interactions
AbstractTrust 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 InfoPaper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 200615.
Date of creation: 2006
Date of revision:
trustworthiness; game theory; adam smith; trust;
Other versions of this item:
- Pelligra, Vittorio, 2010. "Trust responsiveness. On the dynamics of fiduciary interactions," The Journal of Socio-Economics, Elsevier, vol. 39(6), pages 653-660, December.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-02 (All new papers)
- NEP-CBE-2007-01-02 (Cognitive & Behavioural Economics)
- NEP-SOC-2007-01-02 (Social Norms & Social Capital)
- NEP-UPT-2007-01-02 (Utility Models & Prospect Theory)
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