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The Psychology (and Economics) of Trust
Article first published online: 27 NOV 2009
DOI: 10.1111/j.1751-9004.2009.00232.x
© 2009 The Authors. Journal Compilation © 2009 Blackwell Publishing Ltd
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How to Cite
Evans, A. M. and Krueger, J. I. (2009), The Psychology (and Economics) of Trust. Social and Personality Psychology Compass, 3: 1003–1017. doi: 10.1111/j.1751-9004.2009.00232.x
Publication History
- Issue published online: 27 NOV 2009
- Article first published online: 27 NOV 2009
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Abstract
Interpersonal trust is a mental construct with implications for social functioning and economic behavior. We review contemporary theories of trust from behavioral economics and social psychology. Neoclassical economic theory considers trust in strangers to be irrational, but observed behavior reveals widespread trust and trustworthiness. Theories of social preferences and adherence to social norms have been proposed to rationalize trust. Psychological approaches investigate trusting behavior in terms of an underlying disposition, intergroup processes, and cognitive expectations. The breadth of these approaches illustrates the multi-faceted nature of trusting behavior. The determinants of trust are related to the relevant characteristics of the individual, the situation, and their interaction.