Edward Elgar Publishing Trust: Forms, Foundations, Functions, Failures and Figures

Trust is an elusive concept, meaning different things to different people, and so needs to be clearly defined. By focusing on relations within and between firms, Bart Nooteboom undertakes to produce a clearer definition of trust and its role in the economy. Trust deals with a range of questions such as: what are the roles of trust? What can we trust in? Can trust serve as an instrument for the governance of relations? Is trust a substitute, a precondition or an outcome of contracts? The author then goes on to analyse what trust is based on, what its limits are, how it grows and how it can also break down. The role of intermediaries is also discussed. Bart Nooteboom argues that trust goes beyond calculative self-interest and that blind, unconditional trust is unwise. He then examines the paradox of how trust can be non-calculative and yet, not blind. The book also reveals ways to measure and model trust, its antecedents and its consequences. Review ‘The book is a pleasure to read, well edited, well argued, and covering much ground in only just over 200 pages. It is thoroughly introduced and has a very complete “summary and conclusions” chapter. With its extensive references and a subject and author index, it is a valuable scholarly help.’ -- D.J. Bezemer, Journal of Socio-Economics ‘[The book] provides a well-grounded approach to the study of trust and offers a number of ways to continue empirical work on this difficult subject.’ -- Peter Smith Ring, Administrative Science Quarterly ‘. . . the book is clear and engaging, targeted at an academic audience but suitable also for practitioners and general interest given some basic knowledge of organisation science and proclivity for concepts.’ -- Guido Möllering, Personnel Review ‘This book provides an interesting and informative account of the nature, causes and consequences of trust. . . Nooteboom has written an interesting book which has prompted this reviewer to think fruitfully about various aspects of trust. I am confident that the book will provide other readers with similar intellectual stimulation and sustenance.’ -- P.A. Lewis, The Economic Journal ‘. . . it is clear that this is an important work, which, with considerable erudition, breaks new ground on a hitherto little understood aspect of economic behaviour. The fact that the book is also well written and draws upon literatures that range from psychology through to organization theory and philosophy, reinforces the indubitable intellectual contribution it makes. It deserves to be widely read and discussed.’ -- Gary B. Magee, Journal of Evolutionary Economics ‘In the past, the economic analysis of the firm has focused too exclusively on pecuniary considerations. While costs and revenues are vital, it is equally important not to ignore other essential elements, such as trust, that cannot be so readily traded or given a monetary value. Bart Nooteboom’s work is an important corrective to mainstream opinion. He is one of the pioneers of the analysis of trust in organizations and this present volume is a wonderful and elegant addition to this literature.’ -- Geoffrey M. Hodgson, University of Hertfordshire Business School, UK About the Author Bart Nooteboom, Professor Emeritus, Tilburg University, The Netherlands