Trust is defined as delegating authority for uncertain future returns

Evidence

Trust is used here in this third sense, as a social relationship in which principals-for whatever reason or state of mind-invest resources, authority, or responsibility in another to act on their behalf for some uncertain future return. Common networks of social relations shared by principal and agent may provide a sufficient incentive for trust-but not a necessary one. — Shapiro, Susan P., The Social Control of Impersonal Trust, 17

Categorization

• DEFINE: This is Shapiro’s working definition of trust that structures the whole book, distinct from calculative or moral senses of the term.
• XREF: Directly parallels Granovetter’s embeddedness work that Shapiro cites just before this passage — Williamson and Granovetter both tackle whether trust requires social embeddedness. — connects to: Trust is a social relationship of investing responsibility in another for uncertain future return. — Shapiro, Susan P., The Social Control of Impersonal Trust, 17; Trust is defined by the reason for expectation, not the expectation itself; Trust is a theory about another’s future performance based on their claims (+12 more)

Related

• Trust is a social relationship of investing responsibility in another for uncertain future return. (similarity 0.95)
• Trust means predicating one’s actions on others’ risky actions (similarity 0.84)
• Trust is a theory about another’s future performance based on their claims (similarity 0.83)
• Trust in economic life arises from social relations rather than morality or institutions alone. (similarity 0.82)
• Uncertainty-reduction strategies induce rather than replace trust. (similarity 0.82)
• Trust enables action before another party’s cooperation is assured. (similarity 0.81)
• Trust functions by treating the uncertain future as if it were certain. (similarity 0.81)
• Trust is encapsulated interest achievable through many incentive mechanisms (similarity 0.81)
• Trust is not chosen, a gamble, or an investment; only actions are (similarity 0.81)
• Trust is expectation formed before the other’s action can be monitored (similarity 0.81)
• Trust as a distinct social phenomenon emerged only under modern conditions of risk (similarity 0.81)
• Trust is structurally vulnerable because agents can exploit principals’ ignorance and distance. (similarity 0.81)
• Trust is defined by the reason for expectation, not the expectation itself (similarity 0.80)
• Rational trust requires both trusted’s incentives and truster’s knowledge (similarity 0.80)
• Trusting is only knowledge; acting on trust is what carries risk (similarity 0.80)

Broader Connections

• Trust means predicating one’s actions on others’ risky actions #corroborates (0.85) — Diego Gambetta, Trust - Making and Breaking Cooperative…, 2424
• Trust is a theory about another’s future performance based on their claims #expands (0.80)
• Trust is expectation formed before the other’s action can be monitored #expands (0.80)
• Trust is defined by the reason for expectation, not the expectation itself #complicates (0.75)
• Trust reduces future complexity by committing to a determinate future #expands (0.75) — Niklas Luhmann, Trust and Power, 138
• Trust functions by pruning the over-complex future to fit the present #expands (0.75)
• Trust is a fragile coping device for ignorance about others’ future behavior #qualifies (0.75) — Diego Gambetta, Trust - Making and Breaking Cooperative…, 2719
• Trust is a rational policy for conditions where knowledge is unavailable #corroborates (0.75) — Diego Gambetta, Trust - Making and Breaking Cooperative…, 1197
• Trust requires controlling one’s own readiness to accept risk #qualifies (0.72) — Niklas Luhmann, Trust and Power, 161
• Trust solves problems of risk but operates only within a familiar world #qualifies (0.72) — Diego Gambetta, Trust - Making and Breaking Cooperative…, 1334
• Trusting is only knowledge; acting on trust is what carries risk #complicates (0.70)
• Reflexive trust can absorb more uncertainty with less risk #qualifies (0.70)
• Leadership roles absorb uncertainty only through advance trust granted before outcomes appear #expands (0.70)
• Trust rests on structural system guarantees that relieve individuals of risk assessment #qualifies (0.70)