This paper analyzes the role of trust in facilitating efficient exchange relations when agents are vulnerable to opportunistic behavior. Two distinct mechanisms suporting trust are distinguished: self-interested trust (SIT) which is foward-looking, and socially-oriented trust (SOT) which has its...

This article draws on perspectives in philosophy and the sociology of knowledge to critically review the discourse of bounded rationality within contemporary economics. It is argued that the discourse pathologises consumers who are susceptible to sub-optimal market outcomes, treating their...