June 10, 2009

The concept of trust

I refer here to trust in all its socially constructed manifestations, but this bloggers interests lean towards the role of trust in both an online (see Zone B) and a consumer marketing context.

Trust (or lack of it) is at the heart of any and all relationships and business transactions. The whole banking system is built on the faith and trust of its depositors and participants in the system (and the US federal reserve goes one step further - its bank notes bear the inscription "In God We Trust" ). The very existence of a bank note (or its virtual equivalent) is to permit transactions that are based on trust and that the implicit 'promise to pay' will be honoured. The present credit crunch crisis developed after a loss of faith in and trust in the financial system.

us_dollar_back.gif

And fugu enthusiasts put their ultimate trust in the fugu chef - one unwitting slip of the knife into the poison sac during preparation and death is a high probability.

Serious research into the concept of trust emerged in the 1960's and 1970's (e.g. Zand, 1972) and occurs in many disciplines (Sociology, Psychology, Information Systems, Medicine, and, more recently, Management and Marketing) as Arnott's (2009) trust_a_bibliography_may09.docxattests.

The goal in this zone is to explore and discuss the trust construct.

Thoughts, ideas, research, pointers to articles about and examples of trust (and mistrust or distrust) are welcome.


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