Information cost, learning, and trust

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Information cost, learning, and trust

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Title: Information cost, learning, and trust
Author: Lorenzen, Mark
Abstract: In this short paper, I put forward an argument about trust based upon an information cost perspective. I argue that, in different contexts, different origins of trust come to dominate. This is so, because different possible origins of trust have a different information cost, and different contexts have different information availability. Agents learn about this, and place their trust accordingly. I provide an empirical example, and list some traits of information availability between geographically proximate firms. The information cost argument explains why a particular way of trusting is prevalent in some proximate ‘communities’ of agents.
URI: http://hdl.handle.net/10398/8096
Date: 2010-07-02

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