Trust and the Reference Points for Trustworthiness in Gulf and Western Countries

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Trust and the Reference Points for Trustworthiness in Gulf and Western Countries

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Title: Trust and the Reference Points for Trustworthiness in Gulf and Western Countries
Author: Bohnet, Iris; Herrmann, Benedikt; Zeckhauser, Richard Jay

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Citation: Bohnet, Iris, Benedikt Herrmann, and Richard Zeckhauser. 2010. Trust and the Reference Points for Trustworthiness in Gulf and Western Countries. Quarterly Journal of Economics 125(2): 811-828.
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Abstract: Why is private investment so low in Gulf compared to Western countries? We investigate cross-regional differences in trust and reference points for trustworthiness as possible factors. Experiments controlling for cross-regional differences in institutions and beliefs about trustworthiness reveal that Gulf citizens pay much more than Westerners to avoid trusting, and hardly respond when returns to trusting change. These differences can be explained by subjects' gain/loss utility relative to their region's reference point for trustworthiness. The relation-based production of trust in the Gulf induces higher levels of trustworthiness, albeit within groups, than the rule-based interactions prevalent in the West.
Published Version: http://dx.doi.org/10.1162/qjec.2010.125.2.811
Terms of Use: This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#OAP
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:9647371
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