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Social Capital, Trust, And The Agribusiness Of Economics

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  • Wilson, Paul N.

Abstract

Economists, including agricultural economists, have a long history of recognizing the importance of the behavioral foundations in decision making while ignoring these observable human dimensions in their economic models. The economics of social capital and trust, two important human characteristics influencing decisions, have captured the attention of economists in recent years. Recent empirical work demonstrates that social capital and trust considerations are prevalent and economically significant, especially in business. Trust alters the terms of trade, generates decision flexibility, reduces transaction costs, and creates additional time resources for management.

Suggested Citation

  • Wilson, Paul N., 2000. "Social Capital, Trust, And The Agribusiness Of Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 25(1), pages 1-13, July.
    • Handle: RePEc:ags:jlaare:30833
    DOI: 10.22004/ag.econ.30833
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    References listed on IDEAS

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    Cited by:

    1. Micheels, Eric T. & Nolan, James F., 2016. "Examining the effects of absorptive capacity and social capital on the adoption of agricultural innovations: A Canadian Prairie case study," Agricultural Systems, Elsevier, vol. 145(C), pages 127-138.
    2. Herchenbach, Jody S. & Trudo, Claire & Briggeman, Brian C. & Bergtold, Jason S., 2023. "Valuing Trust: An Application to Agricultural Lending," 2023 Annual Meeting, July 23-25, Washington D.C. 335500, Agricultural and Applied Economics Association.
    3. Jose Blandon & Spencer Henson & Towhidul Islam, 2009. "Marketing preferences of small-scale farmers in the context of new agrifood systems: a stated choice model," Agribusiness, John Wiley & Sons, Ltd., vol. 25(2), pages 251-267.
    4. Newman, Claire & Briggeman, Brian C., 2016. "Farmers’ Perceptions of Building Trust," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 19(3), pages 1-20, August.
    5. Galina Ivanova, 2022. "Social Networks: Opportunities for Sustainable Agribusiness Organizations Development," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 11(1), pages 84-92, April.
    6. Mkhabela, Thulasizwe, 2018. "Dual Moral Hazard and Adverse Selection in South African Agribusiness: It Takes Two to Tango," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 21(3), February.
    7. Bergstrom, John C., 2001. "The Role and Value of Natural Capital in Regional Landscapes," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 33(2), pages 283-296, August.
    8. Hansen, Mark H. & Morrow, J.L., Jr. & Batista, Juan C., 2002. "The Impact Of Trust On Cooperative Membership Retention, Performance, And Satisfaction: An Exploratory Study," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 5(1), pages 1-19.
    9. Scott Steele, 2010. "An Organisational Discussion of Incomplete Contracting and Transaction Costs in Conservation Contracts," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(1), pages 163-174, February.
    10. Kelly, Liam D. & Deaton, B. James, 2020. "Endogenous Institutional Change on First Nations Reserves: Selecting into the First Nations Land Management Act," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304294, Agricultural and Applied Economics Association.
    11. castagna alina & colantonio emiliano & furia donatella, 2012. "Social Capital And Industrial District Development: The Role Of The Local Government," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 284-289, July.
    12. Morrow, J.L., Jr. & Joyce, Richard Patrick, III & McMahon, William J. & DeMaia, Antonio M. & McVicker, S. Caleb & Parsons, Ashley E. & Wilcox, Kristin, 2017. "Cooperation among Ugandan farmers: cultivating social capital," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 20(5).
    13. Shideler, David W. & Kraybill, David S., 2009. "Social capital: An analysis of factors influencing investment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(3), pages 443-455, June.
    14. Otten, Dennis & van den Weghe, Herman F.A., 2011. "The Sustainability of Intensive Livestock Areas (ILAS): Network System and Conflict Potential from the Perspective of Animal Farmers," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 2(1), pages 1-16, September.
    15. Szabo, Gabor G. & Baranyai, Zsolt & Takacs, Istvan, 2011. "The Importance and Role of Trust in Agricultural Co-operation – Some Empirical Experiences from Hungary," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 116068, European Association of Agricultural Economists.

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