trust can be viable in markets. The emergence and breakdown of trust is modeled in a context of multiple buyers and … suppliers. Agents adapt their trust in a partner, the weight they attach to trust relative to profitability, and their own … trustworthiness, modeled as a threshold of defection. Adaptation occurs on the basis of realized profit. Trust turns out to be viable …

This article employs Agent-Based Computational Economics (ACE) to investigate whether, and under what conditions, trust … is viable in markets. The emergence and breakdown of trust is modeled in a context of multiple buyers and suppliers …. Agents develop trust in a partner as a function of observed loyalty. They select partners on the basis of their trust in the …

This article employs Agent-Based Computational Economics (ACE) to investigate whether, and under what conditions, trust … is viable in markets. The emergence and breakdown of trust is modeled in a context of multiple buyers and suppliers …. Agents develop trust in a partner as a function of observed loyalty. They select partners on the basis of their trust in the …

suggest. Trust between trading partners lowers transaction costs and may therefore enhance trade. The empirical analysis of … this paper shows that more trust leads to more trade so that part of the mystery of missing trade can be attributed to the … lack of trust between trading partners, e.g. because of cultural differences and habits, or because of insufficient …