Under weak contract enforcement the trading parties' trust, defined as their belief in other's trustworthiness, appears … important for realizing gains from trade. In contrast, under strong contract enforcement beliefs about other's trustworthiness … appear less important, suggesting that trust and contract enforcement are substitutes. Here we show, however, that trust and …

Trust between parties should drive the negotiation and design of contract: if parties did not trust each others … over time, we find that lower trust increases contract completeness. Not only contract complexity but also the verifiable …