Contracting With Uncertain Level Of Trust

S. Braynov; T. Sandholm

DOI:10.1111/1467-8640.00200

Corpus ID: 33473191

Contracting With Uncertain Level Of Trust

@article{Braynov2002ContractingWU,
  title={Contracting With Uncertain Level Of Trust},
  author={S. Braynov and T. Sandholm},
  journal={Computational Intelligence},
  year={2002},
  volume={18}
}

S. Braynov, T. Sandholm

Published 2002

Business, Computer Science

Computational Intelligence

The paper investigates the impact of trust on market efficiency and bilateral contracts. We prove that a market in which agents are trusted to the degree they deserve to be trusted is as efficient as a market with complete trustworthiness. In other words, complete trustworthiness is not a necessary condition for market efficiency. We prove that distrust could significantly reduce market efficiency, and we show how to solve the problem by using appropriately designed multiagent contracts. The… CONTINUE READING

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