Reputation systems aim to induce honest behavior in online trade by providing information about past conduct of users …. Online reputation, however, is not directly connected to a person, but only to the virtual identity of that person. Users can … therefore shed a negative reputation by creating a new account. We study the effects of such identity changes on the efficiency …

implement a control strategy, which consists of low effort discretion and little or no rent-sharing, or they implement a trust … control strategy prevails, while the possibility of screening renders the trust strategy profitable. The introduction of … competition substantially fosters the trust strategy, reduces market segmentation, and leads to large welfare gains for both …

the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial …We document that trust in public institutions – and particularly trust in banks, business and government – has declined … over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in …