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What Is Social Exchange Theory?
According to this theory, people weigh the potential benefits and risks of their social relationships.
When the risks outweigh the rewards, they will terminate orabandon the relationship.
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The purpose of this exchange is to maximize benefits and minimize costs.
One of the most basic examples of social exchange theory is being asked on a date.
Homans is known for being rather matter-of-fact.
Thibaut and Kelley were bothsocial psychologistsand Blau was a sociologist and theorist.
What Are the Key Concepts of Social Exchange Theory?
To truly understand social exchange theory requires recognizing the aspects on which it is based.
Positive relationshipsare those in which the benefits outweigh the costs.Negative relationshipsoccur when the costs are greater than the benefits.
Expectations can appear within work relationships as well.
The Honeymoon Phase
The length of a friendship orromancecan play a role in the social exchange process.
At this point, downsides become more apparent and benefits start to be seen more realistically.
Evaluating the Alternatives
Another aspect of the social exchange process involves looking at possible alternatives.
If this key in of exchange happens only once or twice, it likely won’t impact the relationship.
Typically, being altruistic means giving without expecting anything in return, which contradicts the basis of social exchange.
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