{"id":3764,"date":"2025-12-03T07:00:16","date_gmt":"2025-12-03T04:00:16","guid":{"rendered":"https:\/\/kaanugrasiz.com\/?p=3764"},"modified":"2025-11-20T17:51:45","modified_gmt":"2025-11-20T14:51:45","slug":"the-economic-dimension-of-trust","status":"publish","type":"post","link":"https:\/\/kaanugrasiz.com\/tr\/the-economic-dimension-of-trust.html","title":{"rendered":"The economic dimension of trust"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>The concept of information asymmetry in economics<\/strong> describes situations where, in a group of at least two people, one party possesses more information than the other. I&#8217;d like to give an example using the phone you&#8217;re holding.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The brand, the manufacturer of the device, knows the quality of the product, but you, the consumer, lack sufficient information. Trust comes into play at this stage, and as the consumer, you fill in the missing information with your trust in the brand, and this decision leads to the brand telling the truth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regardless of who is on the other side, trust doesn&#8217;t arise on its own.<strong> From a brand&#8217;s perspective<\/strong>, examples of building and maintaining trust include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>advertising<\/li>\n\n\n\n<li>offering a product warranty<\/li>\n\n\n\n<li>improving the customer service experience<\/li>\n\n\n\n<li>supporting the quality of the product itself and its production line with certificates and documentation<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>As these examples demonstrate,<\/strong> consumer trust is more than just a moral imperative for brands; it&#8217;s also an investment that requires careful consideration to ensure its continued existence.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The amount a brand must spend to gain consumer trust can be in the millions; because brand managers know one thing very well: <strong>consumers who trust a brand once will return to it.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In short, <strong>trust is an invisible yet invaluable force in the economy<\/strong>, and the purpose of the trust tax paid by brands is to protect this power.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I&#8217;d like to offer some simple and comparative examples.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the tech world, Apple has succeeded in creating the impression that its<strong> product is safe despite high prices<\/strong> thanks to its consistent product experience, which it has invested in for many years. In contrast, some competing brands in the same category have discontinued security updates and after-sales service, and their names have been associated with privacy violations, damaging trust in them, or even completely destroying it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes to <strong>reliable, durable, and high-quality car engines<\/strong>, Toyota is one of the first brands that comes to mind. With its l<strong>ong-lasting engines and low failure rates<\/strong>, it&#8217;s a brand that many people consider worthy of the trust tax. While the scandals that have led to the discrediting of some competitors and the discovery of false emissions data are a stark example of trusting the wrong person.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another and final example comes from banking. While <strong>the transparent fee policies and quick solutions offered by digital banks increase trust<\/strong> in the bank and the banking system, the hidden transaction and operating fees traditionally maintained by some banks and the commission demands that arise at unexpected times are also factors that reduce trust.<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"wp-block-paragraph\"><strong>For further read&#8230;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/hbr.org\/2025\/11\/if-trust-is-so-important-why-arent-we-measuring-it\">If trust is so important, why aren\u2019t we measuring it?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/remote.com\/blog\/taxes\/where-remote-workers-pay-taxes\" target=\"_blank\" rel=\"noreferrer noopener\">Where do remote workers pay taxes?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.mckinsey.com\/featured-insights\/mckinsey-on-books\/author-talks-sandra-j-sucher-on-the-power-of-trust\" target=\"_blank\" rel=\"noreferrer noopener\">Author Talks: Sandra J. Sucher on the power of trust<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.linkedin.com\/pulse\/trust-tax-decreasing-hidden-cost-across-entire-employee-matt-baxter-xjpfc\/\" target=\"_blank\" rel=\"noreferrer noopener\">The trust tax: Decreasing the hidden cost across the entire employee lifecycle<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.tandfonline.com\/doi\/full\/10.1080\/20954816.2022.2130501\" target=\"_blank\" rel=\"noreferrer noopener\">Perceptions of trust and power are associated with tax compliance<\/a><\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"wp-block-paragraph\"><strong>Related articles<\/strong><\/p>\n\n\n\n\t\t\t<div class=\"wp-block-uagb-post-grid uagb-post-grid  uagb-post__image-position-background uagb-post__image-enabled uagb-block-e051ae43     uagb-post__items uagb-post__columns-3 is-grid uagb-post__columns-tablet-2 uagb-post__columns-mobile-1 uagb-post__equal-height\" data-total=\"1\" style=\"\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/kaanugrasiz.com\/tr\/is-it-possible-to-build-trust-what-are-the-ways.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Is it possible to build trust, what are the ways?<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t\t<time datetime=\"2025-12-12T08:00:00+03:00\" class=\"uagb-post__date\">\n\t\t\t\t\t\t\t\t\t12 Aral\u0131k 2025\t\t\t\t<\/time>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kaanugrasiz.com\/tr\/is-it-possible-to-build-trust-what-are-the-ways.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" 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href=\"https:\/\/kaanugrasiz.com\/tr\/how-does-the-trust-tax-you-pay-affect-you-psychologically.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/How-does-the-trust-tax-you-pay-affect-you-psychologically-1024x768.webp\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/How-does-the-trust-tax-you-pay-affect-you-psychologically-1024x768.webp 1024w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/How-does-the-trust-tax-you-pay-affect-you-psychologically-300x225.webp 300w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/How-does-the-trust-tax-you-pay-affect-you-psychologically-768x576.webp 768w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/How-does-the-trust-tax-you-pay-affect-you-psychologically-1536x1152.webp 1536w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/How-does-the-trust-tax-you-pay-affect-you-psychologically-2048x1536.webp 2048w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/How-does-the-trust-tax-you-pay-affect-you-psychologically-600x450.webp 600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t<a class=\"uagb-post__link-complete-box\" href=\"https:\/\/kaanugrasiz.com\/tr\/how-does-the-trust-tax-you-pay-affect-you-psychologically.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><\/a>\n\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/kaanugrasiz.com\/tr\/trust-inflation-in-the-digital-world.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">Trust inflation in the digital world<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t\t<time datetime=\"2025-12-05T07:00:00+03:00\" class=\"uagb-post__date\">\n\t\t\t\t\t\t\t\t\t5 Aral\u0131k 2025\t\t\t\t<\/time>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kaanugrasiz.com\/tr\/trust-inflation-in-the-digital-world.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-inflation-in-the-digital-world-1024x768.webp\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-inflation-in-the-digital-world-1024x768.webp 1024w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-inflation-in-the-digital-world-300x225.webp 300w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-inflation-in-the-digital-world-768x576.webp 768w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-inflation-in-the-digital-world-1536x1152.webp 1536w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-inflation-in-the-digital-world-2048x1536.webp 2048w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-inflation-in-the-digital-world-600x450.webp 600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t<a class=\"uagb-post__link-complete-box\" href=\"https:\/\/kaanugrasiz.com\/tr\/trust-inflation-in-the-digital-world.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><\/a>\n\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<article class=\"uagb-post__inner-wrap\">\t\t\t\t\t\t\t\t<h4 class=\"uagb-post__title uagb-post__text\">\n\t\t\t\t<a href=\"https:\/\/kaanugrasiz.com\/tr\/the-economic-dimension-of-trust.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\">The economic dimension of trust<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t\t<time datetime=\"2025-12-03T07:00:16+03:00\" class=\"uagb-post__date\">\n\t\t\t\t\t\t\t\t\t3 Aral\u0131k 2025\t\t\t\t<\/time>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kaanugrasiz.com\/tr\/the-economic-dimension-of-trust.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/The-economic-dimension-of-trust-1024x683.webp\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/The-economic-dimension-of-trust-1024x683.webp 1024w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/The-economic-dimension-of-trust-300x200.webp 300w, 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noopener noreferrer\">Trust tax: The price you pay every time without realizing it<\/a>\n\t\t\t<\/h4>\n\t\t\t\t\t\t<div class='uagb-post__text uagb-post-grid-byline'>\n\t\t\t\t\t\t\t\t<time datetime=\"2025-12-01T07:00:00+03:00\" class=\"uagb-post__date\">\n\t\t\t\t\t\t\t\t\t1 Aral\u0131k 2025\t\t\t\t<\/time>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class='uagb-post__image'>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/kaanugrasiz.com\/tr\/trust-tax.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"534\" src=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-tax-The-price-you-pay-every-time-without-realizing-it-1024x534.webp\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-tax-The-price-you-pay-every-time-without-realizing-it-1024x534.webp 1024w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-tax-The-price-you-pay-every-time-without-realizing-it-300x157.webp 300w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-tax-The-price-you-pay-every-time-without-realizing-it-768x401.webp 768w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-tax-The-price-you-pay-every-time-without-realizing-it-1536x802.webp 1536w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-tax-The-price-you-pay-every-time-without-realizing-it-600x313.webp 600w, https:\/\/kaanugrasiz.com\/wp-content\/uploads\/2025\/11\/Trust-tax-The-price-you-pay-every-time-without-realizing-it.webp 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t<a class=\"uagb-post__link-complete-box\" href=\"https:\/\/kaanugrasiz.com\/tr\/trust-tax.html\" target=\"_self\" rel=\"bookmark noopener noreferrer\"><\/a>\n\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Main photo: <a href=\"https:\/\/unsplash.com\/@deefbelgium?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">David Libeert<\/a>, <a href=\"https:\/\/unsplash.com\/photos\/a-close-up-of-a-painting-on-a-wall-3eSO1sNDNfw?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Unsplash<\/a><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The concept of information asymmetry in economics describes situations where, in a group of at least two people, one party possesses more information than the&#8230;<\/p>\n","protected":false},"author":2,"featured_media":3765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAowuI6_DA:productID":"","_uag_custom_page_level_css":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1077,915],"tags":[1228,1225,1229,1230,1227,1231,1234,1239,1238,1226,1235,1233,1237,1224,1232,1204,1242,1240,1241,1236],"class_list":["post-3764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-life","category-coffeebreak","tag-behavioral-economics-of-trust","tag-brand-trust-bias","tag-cognitive-bias-in-trust","tag-consumer-overpayment","tag-data-privacy-tradeoff","tag-digital-surveillance-economy","tag-emotional-vulnerability-cost","tag-loyalty-penalty","tag-misplaced-trust-consequences","tag-perceived-quality-gap","tag-psychological-trust-leakage","tag-social-media-data-exchange","tag-trust-asymmetry","tag-trust-cost","tag-trust-exploitation","tag-trust-tax","tag-trust-based-overconsumption","tag-trust-driven-decision-making","tag-vulnerability-tax","tag-workplace-trust-deficit"],"yoast_head":"<!-- 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