Dealing with the Paradox of Embeddedness: The Role of Contracts and Trust in Facilitating Movement Out of Committed Relationships

dc.contributor.authorSERGIO GIOVANETTI LAZZARINI
dc.contributor.authorMiller, Gary J.
dc.contributor.authorZenger, Todd
dc.coverage.cidadeNão informadopt_BR
dc.coverage.paisNão Informadopt_BR
dc.creatorMiller, Gary J.
dc.creatorZenger, Todd
dc.date.accessioned2022-10-15T17:38:47Z
dc.date.available2022-10-15T17:38:47Z
dc.date.issued2008
dc.description.otherWhen there are constantly new, valuable opportunities to transact with alternative partners a situation we refer to as exchange value uncertainty long-term or committed transactions among the same individuals are discouraged. But when opportunism creates exchange hazards, which escalate in non-recurring transactions, individuals will be reluctant to take full advantage of the gains from switching to more valuable partners, thereby leading to "overembedded" exchanges. Two mechanisms may encourage movement out of committed relationships in those conditions. First, formal contracts should serve as a safeguard to market participants, in the sense that they limit potential losses due to opportunistic behavior. Second, trust in general others (as opposed to trust in familiar people) reduces participants' perception of hazards in market exchanges and hence promotes transactions among strangers. By increasing the propensity to initiate new exchanges, general trust also diminishes the role of contracts in causing movement out of committed relationships. In this paper, we present experimental evidence largely consistent with this theory of the interplay between formal and informal mechanisms in the determination of social mobility.pt_BR
dc.format.extentp. 709-728pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.doihttps://dx.doi.org/10.2139/ssrn.332622pt_BR
dc.identifier.issue5pt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/4311
dc.identifier.volume19pt_BR
dc.language.isoInglêspt_BR
dc.publisherNão informadopt_BR
dc.relation.ispartofOrganization Sciencept_BR
dc.relation.urihttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=332622pt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.subject.keywordsCommitmentpt_BR
dc.subject.keywordsCooperationpt_BR
dc.subject.keywordsSocial exchangept_BR
dc.subject.keywordsContractspt_BR
dc.subject.keywordsTrustpt_BR
dc.subject.keywordsEmbeddednesspt_BR
dc.titleDealing with the Paradox of Embeddedness: The Role of Contracts and Trust in Facilitating Movement Out of Committed Relationshipspt_BR
dc.typejournal article
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeArtigo Científicopt_BR
relation.isAuthorOfPublication4ee022f9-7466-405d-ae1a-6b1e33f611e8
relation.isAuthorOfPublication.latestForDiscovery4ee022f9-7466-405d-ae1a-6b1e33f611e8
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