Trust is much more than subjective probability: mental components and sources of trust

In this paper we claim the importance of a cognitive view of trust (its articulate, analytic and founded view) in contrast with a mere quantitative and opaque view of trust supported by economics and game theory (GT). We argue in favour of a cognitive view of trust as a complex structure of beliefs and goals, implying that the truster must have a "theory of the mind" of the trustee. Such a structure of beliefs determines a "degree of trust" and an estimation of risk, and then a decision to rely or not on the other, which is also based on a personal threshold of risk acceptance/avoidance. Finally, we also explain rational and irrational components and uses of trust.