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| Author: | Ricketts, M. |
| Title: | Trust and economic organization |
| Journal: | Economic Affairs
2001 : MAR, VOL. 21:1, p. 18-22 |
| Index terms: | ECONOMIC SYSTEMS TRUST |
| Freeterms: | ECONOMIC ORGANIZATIONS |
| Language: | eng |
| Abstract: | Markets induce trust through repeat dealing and the development of reputation. Organisations economise on the use of trust through the appropriate assignment of ownership rights. Trust is not therefore simply a useful "outside" entity which economic analysis takes for granted. The production and "allocation" of trust are, at least partially, an outcome of the operation of the economic system. |
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