Trust is both and emotional and logical act. Emotionally, it is where you expose your vulnerabilities to people, but believing they will not take advantage of your openness. Logically, it is where you have what is a trust the probabilities of gain and loss, calculating expected utility based on hard performance data, and concluded that the person in question will behave in a predictable manner.
In practice, trust is a bit of both. Emotions associated with trust include companionship, friendship, love, agreement, relaxation, comfort. There are a number of different ways we can define trust. Here are the dimensions of trust and consequent definitions. Predictability It is a normal part of the human condition to be constantly forecasting ahead. We build internal models of the world based both on our experiences and what others tell us, and then use these to guess what will happen next. This allows us to spot and prepare for threats and also make plans to achieve our longer-term goals.
Definition 1: Trust means being able to predict what other people will do and what situations will occur. If we can surround ourselves with people we trust, then we can create a safe present and an even better future. Value exchange Most of what we do with other people is based around exchange, which is the basis for all businesses as well as simple relationships. At its simplest, it is exchange of goods. Value exchange works because we each value things differently. If I have a whole flock of sheep but no milk, then I can do business with a person who has a herd of cows but no clothes. This principle of reciprocity is what binds societies together.
Trust in value exchange occurs when we do not know fully whether what we are receiving is what we expect. When we buy a car, don’t want to be sold a ringer which the seller knows is faulty. When I get advice in business, I want it to be based on facts, not wild opinions. Definition 2: Trust means making an exchange with someone when you do not have full knowledge about them, their intent and the things they are offering to you.
Delayed reciprocity Exchange is not just about an immediate swapping of cows and sheep or hugs and kisses. What makes companies and societies really work is that something is given now, but the return is paid back some time in the future. Trust now becomes particularly important, because otherwise we are giving something for nothing. The delay we have placed in the reciprocal arrangement adds a high level of uncertainty which we need to mitigate through trust. Do unto others as you would have them do unto you.
It sets up the dynamic for my giving you something now with the hope of getting back some unspecified thing in the indeterminate future. Definition 3: Trust means giving something now with an expectation that it will be repaid, possibly in some unspecified way at some unspecified time in the future. Exposed vulnerabilities When we trust other people, we may not only be giving them something in hope of getting something else back in the future, we may also be exposing ourselves in a way that they can take advantage of our vulnerabilities. Although the threat of retribution or projected feelings of guilt can counteract your temptation to abuse my exposed vulnerabilities, if you succumb I still get hurt and may still end up with the shorter stick. For our transaction to complete successfully, I must be able to trust that such agonies will not come to pass.
Definition 4: Trust means enabling other people to take advantage of your vulnerabilities—but expecting that they will not do this. So learn about trust, how it works and how to build it. If you do it well, other people will give you the earth. If you betray them, they will hunt you to the ends of the earth. Things work out if one only trusts. He does not trust his children out of his sight.
We trust her to improve the finances of the company within the year. Will you trust us till payday? She left money to her uncle to keep in trust for her children. Others have taken the stage to tell women to just work harder and trust in karma. If she wants voters to believe and trust in her, she must court favor with the local pastor, Jeremiah. In order for a reunion to happen, it would take a high level of trust, musically, on everything that happened.
Maybe at one point I would have envied these students who grew up in privileged families so often laden with trust funds. The more we learn about the government these days, the less we can trust it. I know, better than you possibly can, what reasons I have to trust the strength of his affection. I got to trust you wholly in these matters, and I know I can do it, too. That he is afraid to trust banks, and hides his money in the earth.