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Promises, Lies and Apologies: Is It Possible to Restore Trust?
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******************************** Promises, Lies and Apologies: Is It Possible to Restore Trust? http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1532 In the workplace, trust is essential to day-to-day business, whether it's one colleague trusting that another will do her share of a project, an employee trusting that his boss will reward him for working long hours to meet a deadline, or a customer trusting that a company will fill an order correctly and deliver it on time. The intertwining issues of trust, deception, apologies and promises are explored in a new research paper titled, "Promises and Lies: Restoring Violated Trust," by three Wharton professors who came up with a unique laboratory experiment to see what happens when trust breaks down. "While deception may be tempting because it can be used to increase short-term profits for the deceiver," the researchers note, "we find that the long-term costs of deception are very high."
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