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Trust Responsiveness: On the Dynamics of Fiduciary Interactions

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  • V. Pelligra

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Abstract

Trust and trustworthiness are key elements, both at the micro and macro level, in sustaining the working of modern economies and their institutions. However, despite its centrality, trust continues to be considered as a "conceptual bumblebee", it works in practice but not in theory. In particular, its behavioural rationale still represents a puzzle for traditional rational choice theory and game theory. In this paper "trust responsiveness", an alternative explanatory principle that can account for trustful and trustworthy behaviour, is proposed. Such principle assumes that people can be motivated to behave trustworthily by trustful actions. The paper discusses the philosophical roots, the historical development, as well as the relational nature of this principle as well as its theoretical implications.

Suggested Citation

  • V. Pelligra, 2006. "Trust Responsiveness: On the Dynamics of Fiduciary Interactions," Working Paper CRENoS 200615, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  • Handle: RePEc:cns:cnscwp:200615
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    References listed on IDEAS

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    1. Gary Charness & Matthew Rabin, 2002. "Understanding Social Preferences with Simple Tests," The Quarterly Journal of Economics, Oxford University Press, vol. 117(3), pages 817-869.
    2. Dufwenberg, Martin & Gneezy, Uri, 2000. "Measuring Beliefs in an Experimental Lost Wallet Game," Games and Economic Behavior, Elsevier, vol. 30(2), pages 163-182, February.
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    9. Vittorio Pelligra, 2011. "Intentions, Trust and Frames: A Note on Sociality and the Theory of Games," Review of Social Economy, Taylor & Francis Journals, vol. 69(2), pages 163-188.
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    12. Hume, David, 1739. "A Treatise of Human Nature (II) Of the Passions," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number hume1739a.
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    17. V. Pelligra & A. Isoni & R. Fadda & I. Doneddu, 2010. "Social Preferences and Perceived Intentions. An experiment with Normally Developing and Autistic Spectrum Disorders Subjects," Working Paper CRENoS 201010, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
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    Cited by:

    1. Monti, Marco & Pelligra, Vittorio & Martignon, Laura & Berg, Nathan, 2014. "Retail investors and financial advisors: New evidence on trust and advice taking heuristics," Journal of Business Research, Elsevier, vol. 67(8), pages 1749-1757.
    2. Vittorio Pelligra, 2013. "Trust," Chapters,in: Handbook on the Economics of Reciprocity and Social Enterprise, chapter 40, pages 411-420 Edward Elgar Publishing.
    3. Rodet, Cortney Stephen, 2013. "Seniority, Information and Electoral Accountability," MPRA Paper 49863, University Library of Munich, Germany.
    4. Pelligra, Vittorio & Reggiani, Tommaso G. & Zizzo, Daniel John, 2016. "Responding to (Un)Reasonable Requests," IZA Discussion Papers 10189, Institute for the Study of Labor (IZA).
    5. Leonardo Becchetti & Luca Corazzini & Vittorio Pelligra, 2018. "We Can Be Heroes. Trust and Resilience in Corrupted Economic Environments," CEIS Research Paper 429, Tor Vergata University, CEIS, revised 11 Apr 2018.
    6. Rodet, Cortney S., 2015. "An experiment in political trust," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 57(C), pages 17-25.

    More about this item

    Keywords

    trust; trustworthiness; game theory; adam smith;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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