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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 …
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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 …
Persistent link: https://www.econbiz.de/10005542089
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 …
Persistent link: https://www.econbiz.de/10011091766
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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 …
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