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Identifier to cite or link to this item: https://doi.org/10.15057/18045
Identifier to cite or link to this item: https://hdl.handle.net/10086/18045

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Title
Defining Trust Using Expected Utility Theory
Creator
Creator Name
Arai, Kazuhiro Arai, Kazuhiro
Affiliation
Affiliation Name
Hitotsubashi University
Key Word
Definitions of Trust
Distrust Premium
Betrayal Premium
Properties of Trust
Expected Utility Theory
JEL
D81
Z13
Abstract
Trust has been discussed in many social sciences including economics, psychology, and sociology. However, there is no widely accepted definition of trust. Inparticular, there is no definition that can be used for economic analysis. This paper regards trust as expectation and defines it using expected utility theory together with concepts such as betrayal premium. In doing so, it rejects the widely accepted black-and-white view that (un) trustworthy people are always (un)trustworthy. This paper also discusses various determinants and properties of trust on the basis of the idea that trust is not simply a matter of intention.
Publisher
Hitotsubashi University
Issued Date
2009-12
Language
English(eng)
Resource Type
departmental bulletin paper
Version Type
VoR
selfDOI
10.15057/18045
ISSN
0018-280x
NCID
AA00207547
Source Title
Hitotsubashi Journal of Economics
Volume Number
50
Issue Number
2
Page Start
99
Page End
118
Appears in Collections
Vol. 50, no. 2 (Dec. 2009)
URL
https://hdl.handle.net/10086/18045