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Why Trust Matters: An Economist's Guide to the Ties That Bind Us Hardcover – June 29, 2021
Benjamin Ho (Author) Find all the books, read about the author, and more. See search results for this author |
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Benjamin Ho reveals the surprising importance of trust to how we understand our day-to-day economic lives. Starting with the earliest societies and proceeding through the evolution of the modern economy, he explores its role across an astonishing range of institutions and practices. From contracts and banking to blockchain and the sharing economy to health care and climate change, Ho shows how trust shapes the workings of the world. He provides an accessible account of how economists have applied the mathematical tools of game theory and the experimental methods of behavioral economics to bring rigor to understanding trust. Bringing together insights from decades of research in an approachable format, Why Trust Matters shows how a concept that we rarely associate with the discipline of economics is central to the social systems that govern our lives.
- Print length336 pages
- LanguageEnglish
- PublisherColumbia University Press
- Publication dateJune 29, 2021
- Dimensions6.02 x 1.18 x 8.86 inches
- ISBN-100231189605
- ISBN-13978-0231189606
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Editorial Reviews
Review
Benjamin Ho writes about one of the most important and underexplored factors in how well society functions: trust. Why Trust Matters is clear, engaging, and persuasive: trust me! -- Seth Stephens-Davidowitz, author of Everybody Lies: Big Data, New Data, and What the Internet Can Tell Us About Who We Really Are
This blurb is an act of trust between you, the potential buyer, and me, the esteemed writer who risked his literary reputation to endorse this book. I do so with no fear. Mostly because Benjamin Ho has written a great, necessary, fun, hopeful book that makes you rethink the very basics of society and partly because my rep isn’t all that great. -- Joel Stein, author of In Defense of Elitism: Why I'm Better Than You and You're Better Than Someone Who Didn't Buy This Book
Why Trust Matters validates my long-standing membership in the Ben Ho fan club. His deep knowledge of the historical record, his careful application of economic reasoning, and his charm shine through on every page of this highly readable account of the role of trust in economic and social life. -- Robert H. Frank, author of Under the Influence: Putting Peer Pressure to Work
Trust is critical to civilization and its economy. Benjamin Ho provides a concise, sweeping, accessible, and fascinating summary of the different aspects of trust and their effect on a broad set of social institutions. Whether you are a seasoned economist seeking to broaden your knowledge of the field, a student beginning your journey, or a casual reader looking to deepen your understanding of the world, trust me, you will find this book invaluable. -- Ed Conard, author of Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong
Ho steps away from the mathematical formalisms of his subfield and writes lucidly and compellingly about the foundational concept of all social science. ― New Yorker
Highly recommended. ― Midwest Book Review
About the Author
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Product details
- Publisher : Columbia University Press (June 29, 2021)
- Language : English
- Hardcover : 336 pages
- ISBN-10 : 0231189605
- ISBN-13 : 978-0231189606
- Item Weight : 1.18 pounds
- Dimensions : 6.02 x 1.18 x 8.86 inches
- Best Sellers Rank: #443,156 in Books (See Top 100 in Books)
- #670 in Theory of Economics
- #1,224 in Economic History (Books)
- Customer Reviews:
About the author

Ben Ho is an associate professor of behavioral economics at Vassar College and author of the book Why Trust Matters: An Economist's Guide to the Ties that Bind Us. Ho applies economic tools like game theory and experimental design on topics like apologies, identity, inequality and climate change. Before Vassar, he taught MBA students at Cornell, served as lead energy economist at the White House Council of Economic Advisers, and worked/consulted for Morgan Stanley and several tech startups. Professor Ho also teaches at Columbia University where he is a faculty affiliate for the Center for Global Energy Policy. His work has been featured in the New York Times and the Wall Street Journal. Ho holds seven degrees from Stanford and MIT in economics, education, political science, math, computer science and electrical engineering.
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I cannot recommend this book highly enough.
Overall, this is a must-read for anyone interested in economics, behavior, or simply curious about the nature of everyday interactions and transactions.
In the first chapter, Ho describes some aspects of trust, and even how it can be difficult for scholars in many fields to even precisely define what trust means. He also introduces the concept of the“trust game” experiment, as one way that economists study behavior. Chapter Two describes how trust has been central to human civilization over the years. Ho discusses how our social structures have evolved over the years, and even gets into human biology and how the brain process social interactions. Chapter Three investigates trust as it applies specifically to economics, and how economists use models and experiments to try to translate trust into a mathematical framework. Chapter Four deals with trust in other institutions, and Chapter Five discusses interpersonal trust, in individual relationships and interactions with others. In Chapter 6 Ho ties it all together, gives a summary and offers some future predictions.
Overall, I thought that this book was very well written, and approached the topic of trust from a few different perspectives that I hadn't considered before. Ho was able to explain these technical behavioral economics concepts in a way that was fairly easy to understand. He was able to move fluidly from history to biology to math and back to economic theory, with enough knowledge of each subject to make clear points; without ever being too overwhelming. It took me a little longer to read than some other books of similar length; and that was partly because I was unfamiliar with most of the economics, and partly because I sat and thought about some of the ideas for long periods of time between chapters. I won't promise that you will find it as interesting as I did, but I have to give it 5/5.