Vertrauen: Substitut oder Komplement zu formellen Institutionen?

Friedrich L. Sell and Marcus Wiens

Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, 2006, vol. 126, issue 4, 605-633

Abstract: In this paper, we take trust as a specific, cooperative investment. The trustor is mainly interested in the possibility to rely on the trustee (“reliance”), while the trustee’s object is to receive a trustworthy sig-nal (“trust responsiveness”). The value of a trust relationship amounts and equals to not less than the social surplus which it can generate. On the one hand, a social optimal solution is feasible in the case where both parties agree on “liquidated damages” (perfect jurisdiction). Yet, it is also possible, on the other hand, to achieve a second best solution in a non-perfect jurisdiction world when “trust respon-siveness” comes into play.

JEL-codes: D23 D69 K12 (search for similar items in EconPapers)
Date: 2006
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