“If we start to think about trust as a public good (like clean air and water), we see that we can all benefit from higher levels of trust in terms of communicating with others, making financial transitions smoother, simplifying contracts, and many other business and social activities. Without constant suspicion, we can get more out of our exchanges with others while spending less time making sure that others will fulfill their promises to us. Yet as the tragedy of commons exemplifies, in the short term it is beneficial for each individual to violate and take advantage of the established trust. I suspect that most people and companies miss or ignore the fact that trust is an important public resource and that losing it can have long-term negative consequences for everyone involved. It doesn't take much to violate trust. Just a few bad players in the market can spoil it for everyone else.”
Quote by Dan Ariely
Work
Predictably Irrational: The Hidden Forces that Shape Our Decisions
This book delves into the reasons behind why people often make decisions that defy logic and reason, examining the psychological and social factors that influence our choices. more
Author
Dan Ariely
Dan Ariely is an Israeli-American psychologist and behavioral economist known for his pioneering research in the field of behavioral economics. His work primarily focuses on the irrational aspects of human decision-making and how these irrationalities affect our economic behavior. Ariely's books, 'Predictably Irrational' and 'The Upside of Irrationality', have been widely popular and provide an accessible introduction to his research findings. more
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