Genuine, non-calculative trust with calculative antecedents: Reconsidering Williamson on trust

Marc A. Cohen

Journal of Trust Research, 2014, vol. 4, issue 1, 44-56

Abstract: This short paper defends Oliver Williamson's claim that talk of trust is 'redundant at best and can be misleading' when trust is defined as a form of calculated risk (Williamson, O. E. [1993]. Calculativeness, trust, and economic organization. The Journal of Law and Economics, 36 , 453-486). And this paper accepts Williamson's claim that 'Calculative trust is a contradiction in terms'. But the present paper defends a conception of genuine, non-calculative trust that is compatible with calculative considerations and calculative antecedents. This conception of trust creates space for genuine (non-calculative) trust relationships in the economic order - in which calculative considerations and antecedents (most often) play an essential role.

Date: 2014
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DOI: 10.1080/21515581.2014.891320

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