Social exchange theory is a social psychological and sociological perspective that explains social change and stability as a process of negotiated exchanges between individuals. It posits that individuals engage in social relationships based on the expectation of receiving rewards and incurring costs. These rewards can be tangible (such as money or gifts) or intangible (such as love, approval, or companionship), while costs can be physical, emotional, or psychological.
According to social exchange theory, individuals assess the potential rewards and costs of a relationship and make decisions about whether to continue or terminate it based on this assessment. Additionally, individuals may engage in reciprocity, whereby they expect similar rewards and costs in return for their own actions.
Overall, social exchange theory emphasizes the importance of mutual self-interest in shaping social relationships and interactions.
What is Social exchange theory?
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