Arai, Kazuhiro - In: Hitotsubashi Journal of Economics 50 (2009) 2, pp. 99-118
Trust has been discussed in many social sciences including economics, psychology, and sociology. However, there is no … widely accepted definition of trust. Inparticular, there is no definition that can be used for economic analysis. This paper … regards trust as expectation and defines it using expected utility theory together with concepts such as betrayal premium. In …