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Trust as a Governance Device

  • Conference paper
Cultural Factors in Economic Growth

Part of the book series: Studies in Economic Ethics and Philosophy ((SEEP))

Abstract

In spite of its importance, and in contrast with the literatures in sociology and management, trust has been neglected in the economic literature, with some exceptions (Arrow 1974, Buckley and Casson 1988). One reason fir this neglect probably is that while economists strive for analytical precision, trust appears to be an irredeemably imprecise notion. And indeed it is a complex and slippery concept; a minefield of potential misunderstanding. Different people can mean different things by it, and this can lead to disaster. We need to answer the question what precisely its meaning, sources and limits are. A second, more substantive reason for its neglect in economics follows from an argument proposed by Williamson (1993).

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Authors
  1. Bart Nooteboom
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Editors and Affiliations

  1. Department of Economics, Faculty of Letters & Social Science, University of Reading, P.O. Box 218, Whiteknights Reading, RG6 6AA, UK

    Mark Casson  & Andrew Godley  & 

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© 2000 Springer-Verlag Berlin Heidelberg

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Nooteboom, B. (2000). Trust as a Governance Device. In: Casson, M., Godley, A. (eds) Cultural Factors in Economic Growth. Studies in Economic Ethics and Philosophy. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-57223-4_2

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  • DOI: https://doi.org/10.1007/978-3-642-57223-4_2

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-63044-6

  • Online ISBN: 978-3-642-57223-4

  • eBook Packages: Springer Book Archive

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