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Trust as belief or behavior?

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  • Jon Reiersen

Abstract

Despite its proposed importance for economic performance, there seems to be little agreement on what trust really is. In economics, trust is generally viewed as a belief regarding the action that is to be expected from others. This contrasts with the view that trust is a way of acting. In his influential book on the nature of explanation in the social sciences, Jon Elster argues that trusting is to act with few precautions. I argue that it is possible to reconcile these seemingly conflicting views about trust. I develop a simple model of trust where both beliefs and precautions play an important role – and where Elster’s understanding of trust can be viewed as a special case.

Suggested Citation

  • Jon Reiersen, 2017. "Trust as belief or behavior?," Review of Social Economy, Taylor & Francis Journals, vol. 75(4), pages 434-453, October.
    • Handle: RePEc:taf:rsocec:v:75:y:2017:i:4:p:434-453
    DOI: 10.1080/00346764.2016.1269939
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    Cited by:

    1. Hassanudin Mohd Thas Thaker & Niviethan Rao Subramaniam & Abdul Qoyum & Hafezali Iqbal Hussain, 2023. "Cashless society, e‐wallets and continuous adoption," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3349-3369, July.
    2. Abby Muricho Onencan & Bert Enserink & Bartel Van de Walle, 2018. "A Study of Trust and Cooperation in the Nzoia River Basin Using a Water Policy Game," Sustainability, MDPI, vol. 10(12), pages 1-21, December.

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