Trust, trustworthiness, and business success: lab and field findings from entrepreneurs

Article


Batsaikhan, M. 2017. Trust, trustworthiness, and business success: lab and field findings from entrepreneurs. Economic Inquiry. 55 (1), pp. 368-382. https://doi.org/10.1111/ecin.12359
TypeArticle
TitleTrust, trustworthiness, and business success: lab and field findings from entrepreneurs
AuthorsBatsaikhan, M.
Abstract

This article contributes to the literature on trust and small businesses in developing countries by linking the level of trust in others that entrepreneurs display in a lab setting to sales data outside of the lab. The results show a robust positive correlation between trust and business success (with sales used as a measure of success): The successful entrepreneurs invested in trust more than the less successful ones did. In the lab, trusting in others is highly profitable, with successful entrepreneurs doing so to the degree required to maximize revenue. However, I found no association between trustworthiness and business success.

Keywordsentrepreneurship; trust; success in business; personality traits
Sustainable Development Goals9 Industry, innovation and infrastructure
Middlesex University ThemeCreativity, Culture & Enterprise
LanguageEnglish
PublisherWiley
JournalEconomic Inquiry
ISSN0095-2583
Electronic1465-7295
Publication dates
Online19 May 2016
PrintJan 2017
Publication process dates
Accepted23 Feb 2016
Submitted27 May 2015
Deposited25 Jan 2024
Output statusPublished
Digital Object Identifier (DOI)https://doi.org/10.1111/ecin.12359
Web of Science identifierWOS:000388504000021
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