Measuring trust in institutions and its causal effect

Author:

Penczynski Stefan P.1,Santana Maria Isabel2

Affiliation:

1. School of Economics and Centre for Behavioural and Experimental Social Science (CBESS), University of East Anglia

2. School of Global Development and Centre for Behavioural and Experimental Social Science (CBESS), University of East Anglia

Abstract

We propose a novel way of measuring trust in institutions, which draws on the experimental method used to elicit time preferences. Our measure is provided in the meaningful metric of the subjective probability of trustworthiness of the trustee. In a lab‐in‐the‐field setting in the Philippines, we measure trust in two different financial institutions. Additionally, we exploit exogenous variation in the eligibility for a future payment to examine whether a promise fulfilled by the institution increases trust and changes individual financial behavior. We find that eligible individuals significantly increase savings held with the institution.

Publisher

The Econometric Society

Subject

Economics and Econometrics

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