Trust as an emergent phenomenon in wealth management relationships
Trust research is traditionally found in marketing, economics, psychology, sociology and organisational behaviour literatures. Complexity theory provides an alternative lens through which to conceptualise trust. Three complexity theories (adaptation, self-organisation and self-organised criticality) are integrated with marketing and psychological theory to provide an understanding of trust as an emergent phenomenon and to guide the design of an intelligent agent simulation which will be tested subsequently within the CRM data of a major financial institution. Both fuzzy logic and evolutionary strategies are employed within a multi-agent simulation of interactions between Wealth Management Advisors (WMAs) and their clients. In the simulation, fuzzy logic represents the agents' behavioural rules, which are derived from complexity, marketing and psychology theories. The results obtained using the RePast based simulation show the advantages of evolutionary learning in optimising WMA-customer relationships and how this learning in turn affects WMA strategies as they seek to reduce client churn.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 9 (2007)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.inderscience.com/browse/index.php?journalID=168 |
When requesting a correction, please mention this item's handle: RePEc:ids:gbusec:v:9:y:2007:i:4:p:335-352. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Graham Langley)
If references are entirely missing, you can add them using this form.