Roy Lewicki, the Irving Abramowitz Memorial Professor Emeritus at the Ohio State University, Columbus, OH. He is a leading scholar in the study of trust development and trust repair, negotiation, and conflict management processes. Trust repair is a critical part of negotiations, but also in marital therapy, community mediation, or business relationships. Apologies are important for repairing trust. He talks about the six components that make an apology work to restore trust. Trust works both on a cognitive level, a brain level rationally determining whether the other is trustworthy as well as a strong emotional component. Groups that study larger trust dynamics like politics, or economics, or the law, often pay not enough attention to those emotional components.
In economics transactional trust is important, it is the glue that holds our economic, political, and community systems together.
Broken trust in social media is not less of a research subject. Lying, cheating and dishonesty are as much a part of organizational dynamics as they are among the fleeting relationships in social media. So the phenomena are more similar than they are different.
Trust in negotiation is about telling the truth, but not giving away your bargaining position, not using tactics that are intended to emotionally manipulate the other party like lies or dirty tricks or sneaky tactics. And about following through and honoring your promises and commitments both on their part and on your part.