What about individual versus collective interests?

Credibility is not about the individual acceptance of a rule. Instead, it relates to the aggregate perceptions of institutions as a common arrangement. For example, if an individual believes that others will behave in a certain way and have no incentive to deviate from the rule by which they are governed, that rule (institution) will be perceived as credible.” See P. Ho, “The ‘Credibility Thesis’ and its Application to Property Rights: (In)secure Land Tenure and Social Welfare in China“, Land Use Policy, 2014, 40, Sept, p. 16.

READ MORE
“It is thus not whether an individual actor – be it a farmer, entrepreneur, or state official – personally accepts a rule, but whether an actor expects that other actors will abide by that rule. Consequently, credibility is not about changing rules but about shifts in expectations, while institutions are only credible to the extent that actors expect others to act accordingly.” See P. Ho, “The ‘Credibility Thesis’ and its Application to Property Rights: (In)secure Land Tenure and Social Welfare in China“, Land Use Policy, 2014, 40, Sept, p. 17.

This question is related to the questions:

Comment on this FAQ

Your email address will not be published. Required fields are marked *

Top