------- WINS Seminar on November 06, 2014 at 3pm (ct.), IRI THESys Dear colleagues We welcome you to the session of the WINS Seminar series (Seminar of the Berlin Workshop in Institutional Analysis of Social-Ecological Systems) on November 06, 2014. Timo Goeschl, Heidelberg University and Johannes Jarke, University of Hamburg): Trust, but verify? When trustworthiness is observable only through (costly) monitoring Timo Goeschl (PhD, Cambridge 2000) is Professor of Economics and director of the Research Center for Environmental Economics at Heidelberg University. Previously, he held faculty appointments at the University of Cambridge and the University of Wisconsin-Madison and research appointments at University College London and Cambridge. Timo is co-editor of Environmental and Resource Economics and a Research Associate at the Centre for European Economic Research ZEW in Mannheim. He serves on the scientific board of RWI-Essen and in the Senate Commission on Biodiversity Research of the German Research Foundation DFG. A recipient of research grants from the EU, NSF, USDA, and the DFG, his research has been published in the leading field journals of environmental and regulatory economics. His research interests are in environmental and resource economics, the economics of regulation, and law and economics, using theory, econometrics, and experiments. Abstract: For theoretical (Weissing and Ostrom 1991, 1993) and empirical (Rustagi et al. 2012) reasons, trust is expected to be lower in economic interactions in which trustors can observe trustworthiness only through (costly) monitoring. We examine this conjecture by investigating the impact of a (costly) monitoring environment on trust using data from 152 subjects participating in a binary version of the finite-horizon modified trust game. The three treatment conditions vary observability and the cost of monitoring. We find that trustors do not trust less, even when trustworthiness can only be observed deliberately and at a cost. When monitoring is costly, the same level of trust is supported by a significantly reduced amount of information on trustworthiness, acquired by trustors mainly in early stages of the repeat interaction. As a result, the efficiency of economic interactions is not lower when trustworthiness is costly to observe. (JEL C92, C72, D03, D80) It will take place on: Thursday, November 06, 2014 3pm (ct.) Quartier Stadtmitte Friedrichstr. 191 10117 Berlin 4th floor, room 4088 Map and room location http://www.iri-thesys.org/contact http://www.iri-thesys.org/directions_quartier191/at_download/file The mission of The Berlin Workshop in Institutional Analysis of Social-Ecological Systems (WINS) is to advance communication between academic communities (economists, political scientists, geographers, sociologists, anthropologists, psychologists, and others) that study the role of institutions and governance structures in social-ecological systems and their transformation. It is an open platform for both advanced and young scholars to work symbiotically. WINS is based at Humboldt University's Integrative Research Institute on Transformations of Human-Environment Systems (IRI THESys). The overarching scholarly aim is to facilitate the accumulation of knowledge and the development of new, interdisciplinary and problem-oriented analytical theories and methods, bridging the multiplicity of approaches that have been established over time. Integrative discourses, interdisciplinary research and an advanced studies program will serve as conduits towards this goal. The ultimate purpose is to strengthen policy making through enhanced dialogue with practitioners and stakeholders. For more information please see here: https://www.wins.hu-berlin.de/ Berlins environmental research community is among the most prolific in Europe and the world and we want to take advantage of that. Thus, throughout the 14 sessions of the series we will introduce the work of prominent scholars from Research Institutes that center around Berlin. Additionally, we have visits by scholars from other European Universities. WINS Seminar sessions will take place every Thursday, 3pm, during the winter semester (except for the public holidays). We are looking forward to inspiring presentations and productive exchanges. Organiser of the WINS Seminar series Mit freundlichen Grüßen Ihre Ines Jeworski Humboldt-Universität zu Berlin Lebenswissenschaftliche Fakultät Albrecht Daniel Thaer-Institut für Agrar- und Gartenbauwissenschaften Fachgebiet Ressourcenökonomie Hannoversche Str. 27 10099 Berlin Bundesrepublik Deutschland Tel. 0049 (30) 2093-46365 Fax: 0049 (30) 2093- 6497 E-mail: i.jeworski@xxxxxxxxxxxxxxxxxx www.resource-economics.hu-berlin.de Ines Jeworski Humboldt-Universität zu Berlin Faculty of Life Sciences Albrecht Daniel Thaer-Institute of Agricultural and Horticultural Sciences Division of Resource Economics Hannoversche Str. 27 D-10099 Berlin Tel. 0049 (30) 2093-46365 Fax: 0049 (30) 2093- 6497 E-mail: i.jeworski@xxxxxxxxxxxxxxxxxx www.resource-economics.hu-berlin.de