Vol. 10 No. 3 (2022): Business & Management Studies: An International Journal
Articles

Trust and reciprocity from behavioural economics perspective system: Example of Aksaray University Department of Economics

Bedrettin BOZOĞLAN
Scientist, Turkey
Vildan GÜLPINAR DEMİRCİ
Assist. Prof. Dr., Aksaray University, Aksaray, Turkiye

Published 2022-09-25

Keywords

  • Davranışsal İktisat, Güven ve Karşılıklılık, En Küçük Kareler Yöntemi, Depresyon, Anksiyete
  • Behavioural Economics, Trust and Reciprocity, Least Squares Method, Depression, Anxiety

How to Cite

BOZOĞLAN, B., & GÜLPINAR DEMİRCİ, V. (2022). Trust and reciprocity from behavioural economics perspective system: Example of Aksaray University Department of Economics. Business &Amp; Management Studies: An International Journal, 10(3), 866–884. https://doi.org/10.15295/bmij.v10i3.2079

Abstract

Trust and reciprocity have become concepts frequently discussed in behavioural economics literature after an investment game. The trust game is used to research individual trust and reciprocity behaviours in interpersonal interactions in an environment where economic interests are expected to be prioritized. Trust is considered a guiding behavioural instinct, while reciprocity means that people act in cooperation and are much better than the individual interest model predicted in response to social actions. This research repeated the trust game with the participation of 60 students from the Department of Economics at Aksaray University, and the results were assessed with the Least Squares Method (LSM). The research result suggests that the principle of trust and reciprocity is valid rather than the individual interest prediction. The results seem to be in parallel with the results from most of the literature studies. Considering the literature that suggests that the psychological states of individuals affect their trust attitudes in the research scope, the depression and anxiety levels of the participants were also analyzed. Consequently, a negative association of 14,8% was found between the value representing the trust level and anxiety and a negative association of 18,8% between the said value and depression. This research is expected to contribute to the literature since it also considers the psychological states of individuals in economic behaviours.

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