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Trusting promises under pressure

Author

Listed:
  • Zhang, Can
  • Rao, Yulei
  • Houser, Daniel
  • Wang, Jianxin

Abstract

We analyze data from a laboratory game in which trustees can send written promises to trustors, who must then make a trust decision subject to either time pressure or a required time delay. We find that time pressure economically and statistically significantly reduces trustors’ willingness to trust promises.

Suggested Citation

  • Zhang, Can & Rao, Yulei & Houser, Daniel & Wang, Jianxin, 2023. "Trusting promises under pressure," Economics Letters, Elsevier, vol. 225(C).
    • Handle: RePEc:eee:ecolet:v:225:y:2023:i:c:s016517652300071x
    DOI: 10.1016/j.econlet.2023.111046
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    References listed on IDEAS

    as
    1. Charness, Gary & Dufwenberg, Martin, 2003. "Promises & Partnership," Research Papers in Economics 2003:3, Stockholm University, Department of Economics.
    2. Capraro, Valerio, 2017. "Does the truth come naturally? Time pressure increases honesty in one-shot deception games," Economics Letters, Elsevier, vol. 158(C), pages 54-57.
    3. Sugden, Robert & Wang, Mengjie & Zizzo, Daniel John, 2019. "Take it or leave it: Experimental evidence on the effect of time-limited offers on consumer behaviour," Journal of Economic Behavior & Organization, Elsevier, vol. 168(C), pages 1-23.
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    7. Philipp Strack & Paul Viefers, 2021. "Too Proud to Stop: Regret in Dynamic Decisions," Journal of the European Economic Association, European Economic Association, vol. 19(1), pages 165-199.
    8. Gary Charness & Martin Dufwenberg, 2006. "Promises and Partnership," Econometrica, Econometric Society, vol. 74(6), pages 1579-1601, November.
    9. Gustav Tinghög & David Andersson & Caroline Bonn & Harald Böttiger & Camilla Josephson & Gustaf Lundgren & Daniel Västfjäll & Michael Kirchler & Magnus Johannesson, 2013. "Intuition and cooperation reconsidered," Nature, Nature, vol. 498(7452), pages 1-2, June.
    10. Anna Louisa Merkel & Johannes Lohse, 2019. "Is fairness intuitive? An experiment accounting for subjective utility differences under time pressure," Experimental Economics, Springer;Economic Science Association, vol. 22(1), pages 24-50, March.
    11. Neo, Wei Siong & Yu, Michael & Weber, Roberto A. & Gonzalez, Cleotilde, 2013. "The effects of time delay in reciprocity games," Journal of Economic Psychology, Elsevier, vol. 34(C), pages 20-35.
    12. Daniel Houser & Erte Xiao, 2011. "Classification of natural language messages using a coordination game," Experimental Economics, Springer;Economic Science Association, vol. 14(1), pages 1-14, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Trust; Promise; Time pressure;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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