Trust and Social Collateral
---- Acknowledgements ----
We thank Attila Ambrus, Antoni Calvó-Armengol, Pablo Casas-Arce, Rachel Kranton, Avinash Dixit, Drew Fudenberg, Andrea Galeotti, Sanjeev Goyal, Daniel Hojman, Matthew Jackson, Andrea Prat, Tanya Rosenblat, Fernando Vega-Redondo and seminar participants for helpful comments. Markus Mobius is particularly grateful to Tanya Rosenblat for many discussions on trust in social networks over a number of years. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.