Friday, 28 August 2009

Competition builds trust

Patrick Francoi, Thomas Fujiwara and Tanguy van Ypersele have an article over at on Competition builds trust
Recent research argues that culture affects economic outcomes. Do markets instil cultural values that support good outcomes? This column provides evidence that more competitive markets raise employees’ trust levels. That suggests that competitive markets build the values that support them.
So competitive markets are economically and morally good.

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