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Trust and Economics - The Co-evolution of Trust and Exchange Systems (Hardcover)
Loot Price: R4,156
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Trust and Economics - The Co-evolution of Trust and Exchange Systems (Hardcover)
Series: Routledge Advances in Heterodox Economics
Expected to ship within 12 - 17 working days
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A lot of recent attention has been given to one of the central
paradoxes of trust: namely how people can restrict self-interest in
order to trust. Existing perspectives, theories, and models offer
partial explanations, but this volume presents a novel framework
that expands on the findings of recent studies of trust and
exchange. This book offers a new angle for the understanding of
exchange and trust in an interactive context, describes the
interactive characteristics of trust in exchange systems, and
develops a theory explaining the co-evolution of trust and exchange
systems. A new framework is used to incorporate the theory of
systems of trust and evolutionary game-theoretical approach to
investigate four important questions: How can trust emerge in
exchange when people pursue self-interest? After its emergence, how
does exchange affect trust in a dynamic process? When are dynamics
of trust stable? Do interactive trust phenomena differ under
different exchange systems? This book concludes with a discussion
of the implications of the theoretical findings for three areas:
the improvement of trust, potential economic growth, and mechanism
design in exchange systems. This volume makes a significant
contribution to the literature on evolutionary and institutional
economics and is suitable for those who have an interest in
political economy, economy theory and philosophy as well as
economic psychology.
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