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Aversions to trust

Author

Listed:
  • Anne Corcos

    (LEM - Laboratoire d'Économie Moderne - UP2 - Université Panthéon-Assas)

  • François Pannequin

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, ENS Cachan - École normale supérieure - Cachan)

  • Sacha Bourgeois-Gironde

    (LEM - Laboratoire d'Économie Moderne - UP2 - Université Panthéon-Assas, IJN - Institut Jean-Nicod - DEC - Département d'Etudes Cognitives - ENS Paris - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - CdF (institution) - Collège de France - CNRS - Centre National de la Recherche Scientifique - Département de Philosophie - ENS Paris - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres)

Abstract

In this article, we focus on two types of "aversion" which we deem essential aspects of the notion of trust: betrayal aversion (social) and ambiguity aversion (a special case of aversion to uncertainty). Based on trust-games studies in experimental economics and neuroeconomics, our main goal is to assess the conceptual, behavioral and neurobiological connections between betrayal and ambiguity aversions. From a social and individual psychological point of view the bottom line of our trusting behavior could be our general aversion to ambiguous signals. We approach social trust in the terms of a phenomenon based on uncertainty aversion.Specifically, a reduction of the perceived uncertainty of a social interaction tends to build up a trusting climate conducive to trade by decreasing betrayal aversion.We hypothesize that betrayal aversion and ambiguity aversion bear such a negative correlation. Focusing on this potential negative correlation our approach clearly differs from more positive accounts of trust centred on altruism.

Suggested Citation

  • Anne Corcos & François Pannequin & Sacha Bourgeois-Gironde, 2012. "Aversions to trust," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) ijn_00734564, HAL.
    • Handle: RePEc:hal:cesptp:ijn_00734564
    Note: View the original document on HAL open archive server: https://hal.science/ijn_00734564
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    References listed on IDEAS

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    More about this item

    Keywords

    trust game; betrayal aversion; ambiguity aversion; neuroeconomics;
    All these keywords.

    JEL classification:

    • D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics

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