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Trust and the Performative Construction of Markets

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  • Beckert, Jens

Abstract

The concept of trust has recently been rediscovered, especially in the fields of economic sociology and organization theory. Nevertheless, the actual functioning of trust in markets has only been understood incompletely up to now. As this paper argues, one reason for this is that conceptualizations of trust have focused primarily on the decision-making process of the trust-giver. The contribution of the trust-taker, however, has not been comprehensively investigated. I propose understanding trust as a tranquilizer in market relations that is partly produced in the situation itself by the performative acts of self-presentation of the trust-taker. On the basis of a taxonomy of four strategies, the final part of the paper demonstrates the consequences that result for the understanding of the functioning of markets from this conceptualization of trust relations.

Suggested Citation

  • Beckert, Jens, 2005. "Trust and the Performative Construction of Markets," MPIfG Discussion Paper 05/8, Max Planck Institute for the Study of Societies.
  • Handle: RePEc:zbw:mpifgd:058
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    Cited by:

    1. Christoph Elhardt, 2015. "The causal nexus between trust, institutions and cooperation in international relations," Journal of Trust Research, Taylor & Francis Journals, vol. 5(1), pages 55-77, April.
    2. Braun, Benjamin, 2016. "Speaking to the people? Money, trust, and central bank legitimacy in the age of quantitative easing," MPIfG Discussion Paper 16/12, Max Planck Institute for the Study of Societies.
    3. Beckert, Jens & Wehinger, Frank, 2011. "In the shadow illegal markets and economic sociology," MPIfG Discussion Paper 11/9, Max Planck Institute for the Study of Societies.
    4. repec:spr:joevec:v:28:y:2018:i:2:d:10.1007_s00191-017-0544-2 is not listed on IDEAS
    5. repec:taf:rripxx:v:23:y:2016:i:6:p:1064-1092 is not listed on IDEAS
    6. Gruss, Laura & Piotti, Geny, 2010. "Blurring the lines: Strategic deception and self-deception in markets," MPIfG Discussion Paper 10/13, Max Planck Institute for the Study of Societies.
    7. Möllering, Guido, 2008. "Inviting or avoiding deception through trust? Conceptual exploration of an ambivalent relationship," MPIfG Working Paper 08/1, Max Planck Institute for the Study of Societies.

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