Trust-based reciprocal favors operate like financial capital

Evidence

If A does something for B and trusts B to reciprocate in the future, this establishes an expectation in A and an obligation on the part of B. This obligation can be conceived as a credit slip held by A for performance by B. If A holds a large number of these credit slips, for a number of persons with whom A has relations, then the analogy to financial capital is direct. These credit slips constitute a large body of credit that A can call in if necessary-unless, of course, the placement of trust has been unwise, and these are bad debts that will not be repaid. — Coleman, SocialCapitalCreation-1988, 82

Categorization

• DEFINE: Introduces the core credit-slip metaphor defining obligations as a form of capital.
• CANDY: The ‘credit slips as social capital’ metaphor is a clean, quotable way to explain obligation-based reciprocity.
• XREF: connects to: Heterogeneous reciprocal gifts injected with money’s character resemble purchase; Reciprocal trust creates mutual incentives for trustworthiness — Nicolas Baumard, A mutualistic approach to morality: The…, 166; Trust-based obligations function as exchangeable credit within social relationships. (+6 more)

Broader Connections

• Trust-based obligations function as exchangeable credit within social relationships. #expands (0.85)
• Reciprocal trust creates mutual incentives for trustworthiness #corroborates (0.80) — Nicolas Baumard, A mutualistic approach to morality, 166
• Reciprocal trust multiplies each party’s incentive to be trustworthy #expands (0.80) — Russell Hardin, Trust and Trustworthiness, 1016
• Mutual trust in iterated exchange is selffulfilling through aligned incentives #corroborates (0.78)
• Cost-driven market ties evolve into trust-laden partnerships over time #exemplifies (0.75)
• Trust can be rationally pursued through codified as-if behavior #expands (0.72)