Trust and Cooperation Sample Clauses

Trust and Cooperation. The Construction Manager accepts the relationship of trust and confidence bestowed by the University under the terms of this Agreement. In performing duties hereunder, the Construction Manager covenants with the University to furnish its best skill and judgment in furthering the interests of the University as defined in the Contract Documents. The Construction Manager agrees to perform all obligations hereunder using efficient business administration, superintendence and best efforts to facilitate the expeditious and timely completion of the Project consistent with the interests of the University as expressed in the Contract Documents. The Construction Manager acknowledges that significant effort will be invested in complying with the GMP, Master Project Schedule, and maintaining construction quality. Accordingly, it is further acknowledged that the greatest degree of professionalism is expected from the Construction Manager, Design Professional and the University in accomplishing these contractual obligations and that when potential conflicts exist, each shall demonstrate appropriate respect, professionalism and cooperation with each other in resolving such conflicts.

Trust and Cooperation. Trust lessens the need for written contracts, encourages innovation, helps preserve property rights, and facilitates growth. While scholars agree on trust’s myriad benefits, an exact definition of this value varies across social sciences.27 Like us, most experimental economists adopt Xxxxxxx’x definition (Xxxxxxx, 1990) because it provides a measurable description of trust. Xxxxxxx states that trust is an action that involves the voluntary placement of resources at the disposal of a trustee with no enforceable commitment from the trustee. Trust creates the potential for loss if the trustee is opportunistic but for mutual benefit if the trustee reciprocates. Thus, the willingness to put oneself in such a vulnerable position is determined by the amount of confidence one has in others. Because this definition suggests a method of measurement, most experimental economists use it as the basis for organizing games aimed at measuring trust (see Xxxxxxx, 2003). Since the introduction of trust experiments in the mid 1990s, there have been a plethora of papers on the topic. Most of these papers used variations of trust games to identify demographic factors such as nationality, culture, race, age, or sex that 27 Xxxxxx (1995) provides a survey of definitions of trust across multiple disciplines. 1). The large amount of literature on trust reveals numerous variations of games designed to measure it (see Chapter 1). Here, we focus on two specific designs. The first is the binary trust game as in Xxxx et al. (1997), which is the simplest way of behaviorally measuring trust. In this game, a player decides whether she passes a fixed amount of her endowment to the trustee, who can choose to reciprocate. The second is the investment game of Xxxx et al. (1995), in which a player chooses an amount from her initial endowment to send to the trustee, who then can choose an amount to send back. We seek to determine whether behavior in one of these games can predict behavior in the other. If behavior in the binary trust game and the investment game is consistent, then we may compare results across trust games that have different strategy spaces. Several authors have altered the investment game for the specific purposes of robustness checks. For instance, Xxxxxxxx et al. (2006) varied the endowments for subjects, Xxxxx and Xxxxxx (2002) allowed players to choose their own partners, Xxxxx et al. (2003) let subjects play both roles, and Anderhub et al. (2002) implemented a repeated t...