Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems

We study the functioning of informal value transfer systems through the example of Hawala. By complementing the institutional theory with computational experiments that use the first agent-based model of IVTS, we examine the roles of generalized trust and social control for the emergence, stability,...

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Autores principales: Gräbner, Claudius, Elsner, Wolfram, Lascaux, Alex
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2020
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8589791/
https://www.ncbi.nlm.nih.gov/pubmed/34789963
http://dx.doi.org/10.1007/s10614-020-09994-0
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author Gräbner, Claudius
Elsner, Wolfram
Lascaux, Alex
author_facet Gräbner, Claudius
Elsner, Wolfram
Lascaux, Alex
author_sort Gräbner, Claudius
collection PubMed
description We study the functioning of informal value transfer systems through the example of Hawala. By complementing the institutional theory with computational experiments that use the first agent-based model of IVTS, we examine the roles of generalized trust and social control for the emergence, stability, and efficiency of Hawala. We show that both trust and control are necessary, but not sufficient to guarantee its functioning, and that their relationship is time-dependent. The success of Hawala also depends on population size, interaction density, and forgiveness of the agents. Finally, we provide a theoretically grounded operationalization of generalized trust and social control that is applicable to informal exchange systems in general. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (10.1007/s10614-020-09994-0) contains supplementary material, which is available to authorized users.
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spelling pubmed-85897912021-11-15 Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems Gräbner, Claudius Elsner, Wolfram Lascaux, Alex Comput Econ Article We study the functioning of informal value transfer systems through the example of Hawala. By complementing the institutional theory with computational experiments that use the first agent-based model of IVTS, we examine the roles of generalized trust and social control for the emergence, stability, and efficiency of Hawala. We show that both trust and control are necessary, but not sufficient to guarantee its functioning, and that their relationship is time-dependent. The success of Hawala also depends on population size, interaction density, and forgiveness of the agents. Finally, we provide a theoretically grounded operationalization of generalized trust and social control that is applicable to informal exchange systems in general. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (10.1007/s10614-020-09994-0) contains supplementary material, which is available to authorized users. Springer US 2020-05-20 2021 /pmc/articles/PMC8589791/ /pubmed/34789963 http://dx.doi.org/10.1007/s10614-020-09994-0 Text en © The Author(s) 2020 https://creativecommons.org/licenses/by/4.0/Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) .
spellingShingle Article
Gräbner, Claudius
Elsner, Wolfram
Lascaux, Alex
Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems
title Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems
title_full Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems
title_fullStr Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems
title_full_unstemmed Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems
title_short Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems
title_sort trust and social control: sources of cooperation, performance, and stability in informal value transfer systems
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8589791/
https://www.ncbi.nlm.nih.gov/pubmed/34789963
http://dx.doi.org/10.1007/s10614-020-09994-0
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