Human Nature in the Adaptation of Trust
AbstractThis chapter pleads for more inspiration from human nature, in agent-based modeling.As an illustration of an effort in that direction, it summarizes and discusses an agentbased model of the build-up and adaptation of trust between multiple producers and suppliers.The central question is whether, and under what conditions, trust and loyalty are viable in markets.While the model incorporates some well known behavioural phenomena from the trust literature, more extended modeling of human nature is called for.The chapter explores a line of further research on the basis of notions of mental framing and frame switching on the basis of relational signaling, derived from social psychology.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2006-37.
Date of creation: 2006
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Web page: http://center.uvt.nl
trust; transaction costs; buyer-supplier relationships; social psychology;
Find related papers by JEL classification:
- A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
- L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
- 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-2006-05-27 (All new papers)
- NEP-BEC-2006-05-27 (Business Economics)
- NEP-CBE-2006-05-27 (Cognitive & Behavioural Economics)
- NEP-EVO-2006-05-27 (Evolutionary Economics)
- NEP-HPE-2006-05-27 (History & Philosophy of Economics)
- NEP-SOC-2006-05-27 (Social Norms & Social Capital)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Klos, Tomas B. & Nooteboom, Bart, 2001. "Agent-based computational transaction cost economics," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 503-526, March.
- Gorobets, A. & Nooteboom, B., 2005.
"Adaptive build-up and breakdown of trust: An agent based computational approach,"
2005-39, Tilburg University, Center for Economic Research.
- Alexander Gorobets & Bart Nooteboom, 2006. "Adaptive Build-up and Breakdown of Trust: An Agent Based Computational Approach," Journal of Management and Governance, Springer, vol. 10(3), pages 277-306, September.
- Wendelin Reich, 2004. "Reasoning About Other Agents: a Plea for Logic-Based Methods," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 7(4), pages 4.
- Andreas Diekmann & Wojtek Przepiorka, 2005. "The Evolution of Trust and Reputation: Results from Simulation Experiments," Experimental 0508005, EconWPA.
- Kirman, Alan P. & Vriend, Nicolaas J., 2001. "Evolving market structure: An ACE model of price dispersion and loyalty," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 459-502, March.
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