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Trustworthiness As An Economic Asset


  • Wilson, Paul N.
  • Kennedy, Ana M.


The evaluation of trust in economic decision making remains on the periphery of mainstream economic analysis and teaching. Yet business managers use trustworthiness in daily exchanges to create competitive advantages for their firms. An exploratory empirical test of Barney and HansenÂ’s three levels of trust (weak, semistrong, and strong) and Lewicki and BunkerÂ’s portfolio of governance mechanisms revealed that strong-form trust exists in day-to-day business relationships along with other governance mechanisms. Identity-based transactions were more prevalent than were weak trust market exchanges in important economic transactions.

Suggested Citation

  • Wilson, Paul N. & Kennedy, Ana M., 1999. "Trustworthiness As An Economic Asset," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 2(02).
  • Handle: RePEc:ags:ifaamr:34213

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    References listed on IDEAS

    1. Williamson, Oliver E, 1993. "Calculativeness, Trust, and Economic Organization," Journal of Law and Economics, University of Chicago Press, vol. 36(1), pages 453-486, April.
    2. Sterns, James A. & Schweikhardt, David B. & Peterson, H. Christopher, 1998. "Using Case Studies As An Approach For Conducting Agribusiness Research," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 1(03).
    3. Ottati, Gabi Dei, 1994. "Trust, Interlinking Transactions and Credit in the Industrial District," Cambridge Journal of Economics, Oxford University Press, vol. 18(6), pages 529-546, December.
    4. Burchell, Brendan & Wilkinson, Frank, 1997. "Trust, Business Relationships and the Contractual Environment," Cambridge Journal of Economics, Oxford University Press, vol. 21(2), pages 217-237, March.
    5. Nooteboom, B. & Berger, H. & Noorderhaven, N.G., 1997. "Effects of trust and governance on relational risk," Other publications TiSEM 8e83932e-064c-40e8-afe7-4, Tilburg University, School of Economics and Management.
    6. Gardner, B. Delworth, 1995. "Discussion On Social Capital," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
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    Cited by:

    1. Jackson, Elizabeth & Quaddus, Mohammed & Islam, Nazrul & Stanton, John & Hoque, Zohurul, 2007. "A Multi-Disciplinary Approach For Determining Adoption Of Agricultural Price Risk Management Strategies," 81st Annual Conference, April 2-4, 2007, Reading University 7985, Agricultural Economics Society.
    2. Zander, Katrin & Beske, Philip, 2014. "Happy Growers! Relationship Quality in the German Organic Apple Chain," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 17(3).
    3. Robison, Lindon J. & Schmid, A. Allan & Barry, Peter J., 2002. "The Role of Social Capital in the Industrialization of the Food System," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(1), April.
    4. Jose Blandon & Spencer Henson & John Cranfield, 2009. "Small-scale farmer participation in new agri-food supply chains: Case of the supermarket supply chain for fruit and vegetables in Honduras," Journal of International Development, John Wiley & Sons, Ltd., vol. 21(7), pages 971-984.


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