Fig. 4
From: Modelling trust evolution within small business lending relationships
Trust evolution in the case of (T, R-T, D). Note: (T, R-T, D) refers to the situation that the strategy portfolio changes from (T, R) during the period of [0, td] to (T, D) during the period of [td, t]. Namely, bank decides to trust a small business (T), and small business respects the loan contract (R) during the first rounds ([0, td]) and then the small business starts to default (D) after td. We use the standardized data to generate the simulation results in order to be consistent in scale