Communication between persons who trust each other differs from that between those who do not. A new conceptualization of trust is offered, drawing from game theory, credibility research, sensitivity/encounter groups, and studies of generalized expectations of trustworthiness, which makes an important distinction between the cognitive state of trust and trusting behaviors. Trusting behavior occurs only in situations in which the trusting person perceives his outcomes to be contingent upon the behavior of the other person, has some confidence in his expectations for the other's behavior, and has available options of increasing or decreasing his vulnerability to the other. The cognitive state of trust involves perceiving the other as knowing the nature of the contingency in their relationship, capable of performing the behavior he chooses, and motivated to prevent unacceptably negative outcomes being conferred upon the truster. Trusting behavior consists of increasing one's vulnerability to the other and may take many forms. Some empirical support for this conceptualization is reported, and the implications of this concept for communication research are discussed. (Author)