The Emergence of Exchange Structures: An Experimental Study of Uncertainty, Commitment, and Trust

1994/09/01 by Peter Kollock · 957 citations
Decision Sciences · Mathematics · Physics and Astronomy · Psychology · Social Sciences · #Business #Economics #Experimental Behavioral Economics Studies #Game Theory and Applications #Information exchange #Mathematics #Microeconomics #Opinion Dynamics and Social Influence #Political science #Psychology #Reputation #Social exchange theory #Social psychology #Statistics

paper · doi:10.1086/230539

published in American Journal of Sociology 100(2), 313-345 (University of Chicago Press)

openalex publication_date 1994/09/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/04

Abstract

An experiment is used to investigate the effects of uncertainty on pattern of exchange. The role of reputation as an important factor related to the formation of stable exchange relations is examined. In addition, some of the consequences of differences patterns of exchange-in particular, how different exchange conditions lead to different levels of trust among trading partners-are investigated. The results of the experiment indicate significant differences in the level of commitment, concern for one's own and others' reputation, and the level of trust that emerge when uncertainty (in the form of information asymmetries) is varied.

Citations

• Economic Action and Social Structure: The Problem of Embeddedness

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