What sets credibility apart from trust?

Credibility is different from actors’ “trust” in institutions that emphasizes the relationship between social actors, as for instance, Farrell and Knight, state in an interesting article: “If institutions may exert an independent effect on trustworthiness, and thus on how social actors trust or distrust each other, then it follows that the evolution of institutions may be expected to have an impact on trustworthiness, and thus on trust, and thus on cooperation among individuals (Farrell and Knight, 2003, p. 539).

Credibility, on the other hand, draws attention to the nature of institutions and property rights, and to how they are perceived. To understand that nature, one needs to go beyond form and assess the rules in use, what they represent, and what function they fulfill.” See Peter Ho, “The ‘Credibility Thesis’ and its Application to Property Rights: (In)secure Land Tenure and Social Welfare in China”, Land Use Policy, 2014, Vol. 40, September, pp. 16.