It has been argued that transaction trust is composed of party trust and control trust. In this paper we study control trust: trust in an institution that has set up a control mechanism. We present an account of control mechanisms using normative multiagent systems. Control mechanisms consist of constitutive norms which define evidential documents, and regulative norms which define violation conditions and sanctions. The account is illustrated by an analysis of the Letter of Credit trade procedure.
['Joris Hulstijn', 'Leendert W. N. van der Torre']
Analyzing Control Trust in Normative Multiagent Systems