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Discriminating strategic reciprocity and acquired trust in the repeated trust-game

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Author Info

  • Sacha Bourgeois-Gironde

    ()
    (IJN - Institut Jean-Nicod - CNRS : UMR8129 - Ecole Normale Supérieure de Paris - ENS Paris - Ecole des Hautes Etudes en Sciences Sociales (EHESS), LEM - Laboratoire d'Économie Moderne - Université Paris II - Panthéon-Assas : EA4442)

  • Anne Corcos

    (LEM - Laboratoire d'Économie Moderne - Université Paris II - Panthéon-Assas : EA4442)

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    Abstract

    In repeated trust-game offers made by investors can be attributed to strategic reciprocation-based behavior. However, when a trustee is loyal, personal trust can build up between players, in the same way that lack of positive reciprocation on the part of trustees can motivate investors' distrust. Acquired personal trust or distrust and strategic reciprocation of the opponent's offers have then a cumulative and convergent influence on behavior in the trust game and are not prima facie distinguishable. We propose an experimental protocol which discriminates between these two determinants of trust. We furthermore show that acquired trust is the mere outcome of anonymous repeated interactions taking place during the experiment in the sense that it does not co-vary with an initial and independent baseline disposition to trust among investors: acquired trust crowds out background trust. Moreover, offers are sensitive to the amount and variance of trustees' returns. High returns-rate contribute to increase acquired trust between the players while the volatility of trustees' counter-offers makes them perceive as opportunistic, triggers investors' strategic behavior and detriments the acquisition of personal trust.

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    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number ijn_00713460.

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    Date of creation: 07 Jan 2011
    Date of revision:
    Publication status: Published, Economics Bulletin, 2011, 31, 1, 177-188
    Handle: RePEc:hal:journl:ijn_00713460

    Note: View the original document on HAL open archive server: http://jeannicod.ccsd.cnrs.fr/ijn_00713460
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    Related research

    Keywords: trust-game; determinants of trust; strategic reciprocity;

    References

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    1. Hans-Theo Normann & Brian Wallace, 2012. "The impact of the termination rule on cooperation in a prisoner’s dilemma experiment," International Journal of Game Theory, Springer, vol. 41(3), pages 707-718, August.
    2. Daniel Houser & Daniel Schunk & Joachim Winter, 2006. "Trust Games Measure Trust," MEA discussion paper series 06112, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    3. Eckel, Catherine C. & Wilson, Rick K., 2004. "Is trust a risky decision?," Journal of Economic Behavior & Organization, Elsevier, vol. 55(4), pages 447-465, December.
    4. Cochard, Francois & Nguyen Van, Phu & Willinger, Marc, 2004. "Trusting behavior in a repeated investment game," Journal of Economic Behavior & Organization, Elsevier, vol. 55(1), pages 31-44, September.
    5. Nava Ashraf & Iris Bohnet & Nikita Piankov, 2006. "Decomposing trust and trustworthiness," Experimental Economics, Springer, vol. 9(3), pages 193-208, September.
    6. 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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    Cited by:
    1. Anne Corcos François Pannequin & Sacha Bourgeois-Gironde, 2012. "Aversions to trust," Post-Print ijn_00734564, HAL.

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