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Trust from the Economic Perspective

  • Marco Tulio Zanini
Part of the International Management Studies book series (INTMAN)

Abstract

In this chapter in Sections 2.1 to 2.4 we set out our basic approach on trust from the economic perspective, some basic definitions of trust, the idea of trust and cooperation and some relevant properties of the core concept of trust, based mainly on the rational choice approach. Secondly, in Sections 2.5 to 2.8 we analyze trust as an element within economic systems.49 The objective is to understand the role, function and conditions for the development of trust within business companies as a collective phenomenon. We choose the theoretical background from Transaction Costs Economics (TCE) to analyze the effects of trust within business organizations and to understand the possible consequences of “high-trust” and “low-trust” systems. TCE is more appropriate for our study because the theory emphasizes not the individual but the context where relationships between them occur under certain circumstances.50 Third and finally in Section 2.9, we analyze trust and institutional uncertainty.

Keywords

Transaction Cost Interactive Partner Behavioral Risk Trust Relationship Corporate Culture 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Deutscher Universitäts-Verlag | GWV Fachverlage GmbH, Wiesbaden 2007

Authors and Affiliations

  • Marco Tulio Zanini

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