| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15344 |
| 来源ID | Working Paper 15344 |
| The Right Amount of Trust | |
| Jeffrey Butler; Paola Giuliano; Luigi Guiso | |
| 发表日期 | 2009-09-10 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs. Our interpretation is that highly trusting individuals tend to assume too much social risk and to be cheated more often, ultimately performing less well than those with a belief close to the mean trustworthiness of the population. On the other hand, individuals with overly pessimistic beliefs avoid being cheated, but give up profitable opportunities, therefore underperforming. The cost of either too much or too little trust is comparable to the income lost by forgoing college. We develop a framework to take into account heterogeneity in the trustworthiness of the pool of people with whom individuals interact as well as the presence of heterogenous costs of trust mistakes. Both sources of heterogeneity drive the relationship between trust and income which is hump-shaped for all individuals. This framework allows us to show that income-maximizing trust typically exceeds the trust level of the average person as well as to estimate the distribution of income lost to trust mistakes. We find that although a majority of individuals has well calibrated beliefs, a non-trivial proportion of the population (10%) has trust beliefs sufficiently poorly calibrated to lower income by more than 13%. Our findings hold in large-scale international survey data as well as inside a country with high quality institutions and are also supported by experimental findings. |
| 主题 | Other ; General, Teaching ; Microeconomics ; Development and Growth ; Development ; Culture |
| URL | https://www.nber.org/papers/w15344 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573019 |
| 推荐引用方式 GB/T 7714 | Jeffrey Butler,Paola Giuliano,Luigi Guiso. The Right Amount of Trust. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15344.pdf（934KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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