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- Title
Trust and economic organisation.
- Authors
Ricketts, Martin
- 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. An important 'unintended consequence' of government regulation which does not attract sufficient study and comment is the implicit undermining of trust-inducing market mechanisms and organisational structures.
- Subjects
TRUST; MARKETS; BUSINESS enterprises; ECONOMICS
- Publication
Economic Affairs, 2001, Vol 21, Issue 1, p18
- ISSN
0265-0665
- Publication type
Article
- DOI
10.1111/1468-0270.00270