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Aversions to trust

Anne Corcos (), François Pannequin and Sacha Bourgeois-Gironde
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Anne Corcos: LEM - Laboratoire d'Économie Moderne - UP2 - Université Panthéon-Assas

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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.

Keywords: trust game; betrayal aversion; ambiguity aversion; neuroeconomics (search for similar items in EconPapers)
Date: 2012-11-25
New Economics Papers: this item is included in nep-evo, nep-exp, nep-gth, nep-hpe, nep-mic, nep-soc and nep-upt
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Published in Recherches Economiques de Louvain - Louvain economic review, 2012, 78 (3/4), pp.152-173

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