Bounded rationality, value systems and time-inconsistency of preferences as rational foundations for the concept of trust

Jose M. Rosanas ()
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Jose M. Rosanas: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN

No D/567, IESE Research Papers from IESE Business School

Abstract: This paper intends to contribute to the (bounded rationality) foundations of trust. After reviewing the extant definitions, I establish the formal structure of situations involving trust. In that context, I examine the paradoxical situation of (calculative) trust in simple settings. Then I show how bounded rationality provides a rationale for a concept of trust that goes beyond that calculative notion. Value systems and possible inconsistency of time preferences are shown to be crucial elements.

Keywords: Trust; Bounded rationality; Value systems; Behavioral decision-making (search for similar items in EconPapers)
Pages: 32 pages
Date: 2004-09-15
New Economics Papers: this item is included in nep-bec, nep-cbe and nep-evo
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ebg:iesewp:d-0567

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