The Influence Of Social Preference And Non-social Preference On Trust

As an informal institution,trust influences economic activities and social life,and plays an important role in individual actors,micro enterprises and even macro economy.In order to explore the influence of actors’ social and non-social preferences on trust in games,this paper creatively incorporated risk preference into the CES utility theory framework proposed by Andreoni and Miller(2002)for theoretical analysis of behavioral decisions in trust games,and based on the theoretical analysis results,social preferences,non-social preferences and belief influence trustfulness(the degree of trust shown to others)and trustworthiness(the degree of trust worthy of others).Further,1222 participants were recruited to participate in the experiment by behavioral experiment method,and 1212 valid samples of college students were obtained.Based on theoretical analysis and empirical analysis of experimental data,the following conclusions can be drawn: social preference(including altruism preference,equality preference and efficiency preference),non-social preference(risk preference)and belief influence trustfulness:(1)In terms of the influence of social preference,the altruistic preference was positively correlated with the level of trust,indicating that the more the participants attached importance to the interests of others,the more they would have trust in others;efficiency-equality trade-off parameter represents the experimenter to fair and efficiency preference trade-offs,among them,the efficiency-equality trade-off parameter,the greater value of this parameter the more people efficiency(pay attention to the general welfare of the society)preference,the smaller the says the more people equality(their interests are relatively equal to those of others)preference.Equity-efficiency trade-off parameter is are positively correlated with trustfulness.This suggests that participants who paid more attention to the general welfare of society showed higher trust in others.(2)In terms of the influence of non-social preference,risk preference is significantly positively correlated with trustfulness,indicating that the experimenter with higher risk preference is more likely to show trust in others.It also indicates that when the risk preference is constant,the less risk that participants face,the more trust they have in others.(3)In addition to social preference and non-social preference,there was also a significant positive correlation between belief and trustfulness,indicating that participants would show a higher trustfulness when they expected a greater reward from the others.At the same time,it is concluded that social preferences and non-social preference affect the trustworthiness :(1)Altruistic preference is positively correlated with the level of trustworthiness,indicating that the more participants attach importance to the interests of others,the higher the level of trustworthiness is;When the other party has low trust level,the equity-efficiency trade-off parameter is significantly positively correlated with trust level;otherwise,they are significantly negatively correlated,indicating that people’s trustworthy behavior is affected by equality preference.(2)There is no significant correlation between risk preference and trustworthiness,indicating that trustworthy behavior decision does not contain risk factors.It should be noted that when the trustworthiness level of the whole society increases,people expect the average return of the other party will increase,which is conducive to improving people’s trust level.This paper applies the method of Andreoni and Miller to explain the decision behavior of trust games,expands the relevant literature on trust,and supplements the behavioral experimental evidence for the related research on the influence of social preferences and non-social preference on trustfulness.Through the study of people’s trust behavior,it provides a theoretical and empirical evidences for improving people’s trust in reality.