Trust,fast and slow: A comparison study of the trust behaviors of entrepreneurs and non-entrepreneurs |
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| Institution: | 1. University of Canterbury, New Zealand;2. Nanyang Technological University, Singapore;1. Miami University, Oxford, OH, United States of America;2. Tulane University, New Orleans, LA, United States of America;3. Indiana University, Bloomington, IN, United States of America;4. University of Utah, Salt Lake City, UT, United States of America;1. RMIT University, School of Management, Melbourne, Australia;2. Farmer School of Business, Miami University, United States of America;3. Brazilian School of Public and Business Administration (EBAPE), Fundação Getúlio Vargas, Brazil;1. Stetson School of Business and Economics, Mercer University, 1501 Mercer University Avenue, Macon, GA 31207, United States of America;2. DeGroote School of Business, McMaster University, 1280 Main Street West, Hamilton, ON L8S 4M4, Canada;1. Kelley School of Business, Indiana University, 1309 E 10th Street, Bloomington, IN 47405, United States of America;2. EMLYON Business School, Ecully, France;3. Technische Universität Dresden, Work & Organisational Psychology, Zellescher Weg 17, 01062 Dresden, Germany |
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| Abstract: | Following the cognitive and behavioral approach, this study compares the trust behaviors of entrepreneurs and non-entrepreneurs in a dynamic environment. Due to the differences in the contexts that they face, the thinking frameworks they adopt, and the knowledge structures they form from experience, we argue that entrepreneurs display different trust behaviors from non-entrepreneurs when facing volatile environments in the decision-making process. Adopting established paradigms from behavioral game theory (trust game), we examine the evolution of trust behaviors of the two groups for trust building, trust violation, and trust recovery. In a Singapore-based sample, we find that entrepreneurs build trust more quickly, decrease trust more quickly when faced with trust violations, and recover more quickly from trust violations than non-entrepreneurs. This study contributes to a better understanding of entrepreneurs' trust behaviors over time, their responses to variations in social exchanges, while contributing to overall ongoing discussions of the unique characteristics of entrepreneurs. |
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