Walton and McKersie's Behavioral Theory of Labor Negotiation sought to provide a descriptive theory of the process by which union and management negotiators reached settlements. Their paper drew on existing psychology, behavioral decision theory, and game theory. The basic psychological model of...

High levels of general trust are critical to economic growth and the integration of firms into new markets, but what factors influence the willingness to trust strangers? I examine the circumstances under which individuals across different societies are willing to trust in anonymous counterparts...