Die Anlage in Aktien spielt in der bankbasierten Ökonomie Deutschlands eine weitaus geringere Rolle als in den marktbasierten USA. Das sich hierin widerspiegelnde anders geartete Risikoverhalten ist nur vor dem Hintergrund unterschiedlicher kultureller Kontexte zu verstehen. Die Deutschen sind...

A vast literature has investigated the relationship between trust and aggregate economic performance. We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs available...

This paper shows that cross country differences in the generosity and the quality of the welfare state are associated with differences in the trustworthiness of their citizens. We show that generous, transparent and efficient welfare states in Scandinavian countries are based on the civicness of...

When we take a cab we may feel cheated if the driver takes an unnecessarily long route despite the lack of a contract or promise to take the shortest possible path. Is our decision to take the cab affected by our belief that we may end up feeling cheated? Is the behavior of the driver affected...

Trust beliefs are heterogeneous across individuals and, at the same time, persistent across generations. We investigate one mechanism yielding these dual patterns: false consensus. In the context of a trust game experiment, we show that individuals extrapolate from their own type when forming...

A vast literature has investigated the relationship between trust and aggregate economic performance. We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs available...

We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs. Heterogeneity of trust beliefs in the population, coupled with the tendency of individuals to extrapolate...

Trusting behavior has been shown to affect households' portfolio choice between risky and risk-free financial assets. We extend the analysis of the effect of trust on portfolio choice to include the dominant component of households' portfolios, real estate. In a simple model, we show how the...

The article proposes that basic social attitudes and associational networks of employees influence their interaction with coworkers and managers at the workplace and thereby also shape work attitudes and behavior. Two terms are introduced to analyze this hypothesis: Civic Social Capital...

Prior research suggests that trust plays an important role for individuals' participation in stock markets. This paper focuses on potential customers in retail banking markets and empirically investigates their trust in foreign banks and domestic banks. Using a large survey on savings patterns...