In recent years, there has been an increasing interest in thedevelopment of ontologically well-founded conceptual models for Information Systems in areas such as Service Management, Accounting Information Systems and Financial Reporting. Economic exchanges are central phenomena in these areas. For this reason, they occupy a prominent position in modelling frameworks such as the REA (Resource-EventAction) ISO Standard as well as the FIBO (Financial Industry BusinessOntology). In this paper, we begin a well-founded ontological analysisof economic exchanges inspired by a recent ontological (...) view on the nature of economic transactions. According to this view, what counts asan economic transaction is based on an agreement on the actions thatthe agents are committed to perform. The agreement is in turn based on convergent preferences about the course of action to bring about. This view enables a unified treatment of economic exchanges, regardless the object of the transaction, and complies with the view that all economictransactions are about services. In this paper, we start developing our analysis in the framework of the Unified Foundational Ontology (UFO). (shrink)

In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic ex- changes are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial stan- dards (e.g. OMG’s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired by a (...) recent view on this phenomenon. According to this view, economic exchanges are based on an agreement on the actions that the agents are committed to perform. This view enables a unified treatment of economic exchanges, regardless the object of the transaction. We ground our core ontology on the Unified Foundational Ontology (UFO), discussing its formal and conceptual aspects, instantiating it as a reusable OntoUML model, and confronting it with the REA standard and the UFO-S service ontology. (shrink)

Trust is an attitude that an agent (the trustor) has toward an entity (the trustee), such that the trustor counts upon the trustee to act in a way that is benefi- cial w.r.t. to the trustor’s goals. The notion of trust is relevantly discussed both in in- formation science and philosophy. Unfortunately, we still lack a satisfying account for this concept. The goal of this article is to contribute to filling this gap. First, we take issue with some central tenets (...) shared by the main philosophical accounts, such as that there is just one relation of trust, that this relation has three argument places, and that trust is reliance plus some extra factor. Second, we provide a novel account of trust, also discussing different levels of trust. According to the account we put forth here, the logical form of trust sentences is expressed by a four-place relation. Further, we distinguish and characterize four kinds of trust relations and their connections. We also argue that trust and reliance are different phenomena. Third, on the basis of the proposed account, we extend the Reference Ontology of Trust (ROT). We call the new version of ROT that includes this extension ”ROT 3.0”. Finally, we discuss the implications of the new ontological definitions in the applications we have done of the concept of trust in other works, also pointing out future applications made possible by these novel accounts of trust. (shrink)

Trust has stood out more than ever in light of recent innovations. Some examples are advances in artificial intelligence (AI) that make machines increasingly humanlike, and the introduction of decentralized technologies (e.g., blockchains), which create new forms of (decentralized) trust. These new developments have the potential to improve the provision of products and services, as well as to contribute to individual and collective well-being. However, their adoption depends largely on trust. To build trustworthy systems, along with defining laws, regulations, and (...) proper governance models for new forms of trust, it is necessary to properly conceptualize trust, so that it can be understood both by humans and machines. This paper is the culmination of a long-term research program of providing a solid ontological foundation on trust, by creating reference conceptual models to support information modeling, automated reasoning, information integration, and semantic interoperability tasks. To address this, a Reference Ontology of Trust (ONTrust) was developed, grounded on the Unified Foundational Ontology and specified in OntoUML, which has been applied in several initiatives, demonstrating its use for conceptual modeling and enterprise architecture design, for language evaluation and (re)design, for trust management, for requirements engineering, and for trustworthy AI in the context of affective human–AI teaming. ONTrust formally characterizes the concept of trust and its different types, describes the different factors that can influence trust, and explains how risk emerges from trust relations. To illustrate its use, the ontology is applied to model two case studies extracted from the literature. (shrink)