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Full-Text Articles in Economic Theory
Do Negative Random Shocks Affect Trust And Trustworthiness?, Hernán Bejerano, Joris Gillet, Ismael Rodriguez-Lara
Do Negative Random Shocks Affect Trust And Trustworthiness?, Hernán Bejerano, Joris Gillet, Ismael Rodriguez-Lara
ESI Publications
We report data from a variation of the trust game aimed at determining whether (and how) inequality and random shocks that affect wealth influence the levels of trust and trustworthiness. To tease apart the effect of the shock and the inequality, we compare behavior in a trust game where the inequality is initially given and one where it is the result of a random shock that reduces the second mover's endowment. We find that first‐movers send less to second‐movers but only when the inequality results from a random shock. As for the amount returned, second‐movers return less when they are …
Do Negative Random Shocks Affect Trust And Trustworthiness?, Hernán Bejerano, Joris Gillet, Ismael Rodriguez-Lara
Do Negative Random Shocks Affect Trust And Trustworthiness?, Hernán Bejerano, Joris Gillet, Ismael Rodriguez-Lara
ESI Publications
We report data from a variation of the trust game aimed at determining whether (and how) inequality and random shocks that affect wealth influence the levels of trust and trustworthiness. To tease apart the effect of the shock and the inequality, we compare behavior in a trust game where the inequality is initially given and one where it is the result of a random shock that reduces the second mover's endowment. We find that first‐movers send less to second‐movers but only when the inequality results from a random shock. As for the amount returned, second‐movers return less when they are …
Conflicted Emotions Following Trust-Based Interaction, Eric Schniter, Roman M. Sheremeta, Timothy W. Shields
Conflicted Emotions Following Trust-Based Interaction, Eric Schniter, Roman M. Sheremeta, Timothy W. Shields
ESI Publications
We observed reports of conflicted (concurrent positive and negative) emotions activated after interactions in the Trust game. Our analyses reveal that activation of 20 emotional states following trust-based interaction is better explained by predictions derived from a multi-dimensional Recalibrational perspective than by predictions derived from two-dimensional Valence and Arousal perspectives. The Recalibrational perspective proposes that emotions are activated according to their functional features – for example, emotions help people achieve short or long-sighted goals by up or down-regulating behavioral propensities, whereas Valence and Arousal perspectives consider simpler hedonic dimensions lacking functional specificity. The Recalibrational perspective is also distinguished from the …
Predictable And Predictive Emotions: Explaining Cheap Signals And Trust Re-Extension, Eric Schniter, Roman M. Sheremeta
Predictable And Predictive Emotions: Explaining Cheap Signals And Trust Re-Extension, Eric Schniter, Roman M. Sheremeta
ESI Publications
Despite normative predictions from economics and biology, unrelated strangers will often develop the trust necessary to reap gains from one-shot economic exchange opportunities. This appears to be especially true when declared intentions and emotions can be cheaply communicated. Perhaps even more puzzling to economists and biologists is the observation that anonymous and unrelated individuals, known to have breached trust, often make effective use of cheap signals, such as promises and apologies, to encourage trust re-extension. We used a pair of trust games with one-way communication and an emotion survey to investigate the role of emotions in regulating the propensity to …