Trust and relational capital

Trust can be viewed at the same time as an instrument both for an agent selecting the right partners in order to achieve its own goals, and for an agent of being selected from other potential partners in order to establish with them a cooperation/collaboration and to take advantage from the accumulated trust. In this paper we will analyze trust as the agents' relational capital. Starting from the classical dependence network with potential partners, we introduce the analysis of what it means for an agent to be trusted and how this condition could be strategically used from it for achieving its own goals, that is, why it represents a form of power. The idea of taking another agent's point of view is especially important if we consider the amount of studies in social science that connect trust with social capital related issues. Although there is a big interest in literature about 'social capital' and its powerful effects on the wellbeing of both societies and individuals, often it is not clear enough what is it the object under analysis. Individual trust capital (relational capital) and collective trust capital not only should be disentangled, but their relations are quite complicated and even conflicting. To overcome this gap, we propose a study that first attempts to understand what trust is as capital of individuals. In which sense "trust" is a capital. How this capital is built, managed and saved. In particular, how this capital is the result of the others' beliefs and goals. Then we aim to analytically study the cognitive dynamics of this object. © 2011 Springer Science+Business Media, LLC.