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Life satisfaction, Trust, Social Capital (Trust (trust in institutions…
Life satisfaction, Trust, Social Capital
Trust
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Theory of the firm is meant to reduce transaction cost of going to the market for every component of business.
Trust grows as individuals are closer socially, Ibid 2000
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Trust in others
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Holistic trust, democratic societies trust in other to vote
Game theory I trust you as it is in your interest to do what I trust you to do. Both sides have upside in agreement.
Are the unemployed generally dissatisfied with life, inturn skuwing their trust ratings overall. Being unemployed the causality of low trust scores.
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trust in institutions
Unemployed tend to have less trust in economic institutions Central Bank & Gov. Also have a lack of trust in other state institutions, police/ law
Trust also differs in a systematic manner with respect to education and household income, increases (decreases) in either increase (decrease) trust in most institutions. What is the causality. Economics can not explain why the data has changed.
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Socio economic background effect trust in institutions as experiences with them change, general more respect is given wealth, successful educated citizens (hudson 2006)
Divorced citizens often have a negative view of law as in institution as they have not received the settlement they wanted. (only warranted as individuals have come into direct contact with institution (hudson 2006)
Typically individuals dont come into direct contact with institution but may still blame them for downside in life, eg losing job related to government policy or economic practice. (Hudon 2006)
Income and education linked to social trust as these are components of knowledge of institutions. "Have nots" have less respect than "haves" as they have been treated with less respect also they might have less knowledge of the institution (Hudon 2006)
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happiness does not souly lie in the individually but institutional performance does have a sway on it.
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Social Capital/ Value
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Type of network
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Anyone an individual has contact with, lectures are still within my network.
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Trust related to risk taking and confidence, economic paradox of tranquility ?
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