Analysing the Relationship between Risk and Trust

Among the various human factors impinging upon making a decision in an uncertain environment, risk and trust are surely crucial ones. Several models for trust have been proposed in the literature but few explicitly take risk into account. This paper analyses the relationship between the two concepts by first looking at how a decision is made to enter into a transaction based on the risk information. We then draw a model of the invested fraction of the capital function of a decision surface. We finally define a model of trust composed of a reliability trust as the probability of transaction success and a decision trust derived from the decision surface.

• Type: Conference
• Year: 2004
• Where: ITRUST
• Authors: Audun Jøsang, Stéphane Lo Presti
• Keywords: Decision Surface, ITRUST 2004, Trust, Various Human Factors