Social exchange theory

Common card · No. 289950

Social exchange theory is a sociological and psychological theory that explains how people behave in relationships by using cost–benefit analysis to determine risks and benefits, expecting that what they give will lead to a fair return, and treating social relationships like economic exchanges (for romantic relationships specifically, see sexual economics) in which each person controls things the other values and decides whether to continue the relationship based on how beneficial and fair the exchange feels over time. Studies show that people expect a return benefit when they act well towards someone, and a punishment when they harm another person. Social exchange theory can be applied to a wide range of relationships, including romantic partnerships, friendships, family dynamics, professional relationships and other social exchanges. An example can be as simple as exchanging words with a customer at the cash register. In each context individuals are thought to evaluate the rewards and...

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