In their paper Trust and Social Control: Sources of Cooperation, Performance, and Stability in Informal Value Transfer Systems, which has been published in the journal Computational Economics, Claudius Gräbner (together with Alex Lascaux and Wolfram Elsner) study the relevance of trust and social control for the functioning of informal institutions of exchange, such as value transfer systems. These institutions rely on social factors beyond competition, yet show, under particular circumstances, which the paper describes, high degrees of efficiency, stability and effectiveness.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s