Social exchange theory  

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Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. Also, the theory involves economic relationships, it occurs when each party have goods that the other parties value.

History

During the beginning of this theory, The most comprehensive social exchange theories are those of the American social psychologists John W. Thibaut (1917–1986) and Harold H. Kelley (1921–2003), the American sociologists George C. Homans (1910–1989), Peter M. Blau (1918–2002), Richard Marc Emerson (D; 1982), and Claude Lévi-Strauss (1908–2009). He defined social exchange as the exchange of activity, tangible or intangible, and more or less rewarding or costing between at least two persons. After Homans founded the theory, other theorists continued to write about it, particularly Peter M. Blau and Richard M. Emerson, who in addition to Homans are generally thought of as the major developers of the exchange perspective within sociology. Homans' work emphasized the individual behavior of actors in interaction with one another. Although there are various modes of exchange, Homans centered his studies on dyadic exchange. John Thibaut and Harold Kelley are recognized for focusing their studies within the theory on the psychological concepts, the dyad and small group. Lévi-Strauss is recognized for contributing to the emergence of this theoretical perspective from his work on anthropology focused on systems of generalized exchange, such as kinship systems and gift exchange.

Thibaut and Kelley

Thibaut and Kelley based their theory principally on small groups related with dyadic relationships. They used the reward-cost matrices from the Game Theory and discovered some clues of individuals’ interdependence such as the power of a party over each other. Also known as the “correspondence” versus “noncorrespondence” of outcomes. Additionally, they suggest that an individual can unilaterally affect her or his own outcomes in a relationship through chosen behaviors. They could predict the possible course of a social interaction through the analysis of aspects of power in an encounter. They also experimented on how the outcomes received in a relationship could define a person's attractions to relationships.

Homans

Homans based his theory on concepts of equilibration, expectancy and distribute justice in dyadic exchange. With this, he tries to explain the social interaction in small groups and the rewards received proportional to their costs and investments. Homans summarizes the system in three propositions: success, stimulus, and deprivation–satiation proposition.

Homans summarizes the system in three propositions: success, stimulus, and deprivation–satiation proposition

1. Success proposition: When one finds they are rewarded for their actions, they tend to repeat the action.
2. Stimulus proposition: The more often a particular stimulus has resulted in a reward in the past, the more likely it is that a person will respond to it.
3. Deprivation–satiation proposition: The more often in the recent past a person has received a particular reward, the less valuable any further unit of that reward becomes.

Blau

Blau's theory is very similar to Homans’. However, he uses more economics terms and it is based principally on emergent social structure in social exchange patterns in small groups. His theory analyzes the development of exchange theory in economics without emphasizing on the psychological assumptions. He contributed to the idea of distinguishing between social and economic exchanges and exchange and power. The goal of his theory was to identify complex and simple processes without ignoring emergent properties. Blau's utilitarian focus encouraged the theorist to look forward, as in what they anticipated the reward would be in regards to their next social interaction. Blau felt that if individuals focused too much on the psychological concepts within the theory, they would refrain from learning the developing aspects of social exchange. Blau emphasized technical economic analysis whereas Homans concentrated more on the psychology of instrumental behavior.

Emerson

Emerson was inspired by Homans and Blau's ideas. He focused on the interaction and relationship between individuals and parties. His view of social exchange theory emphasizes the resource availability, power, and dependence as primary dynamics.  He thought that relations were organized in different manners, and they could differ depending on the type and amour of the resources exchanged. He poses the idea that power and dependence are the main aspects that define a relationship.. According to Emerson, Exchange is not a theory, but a framework from which other theories can converge and be compared to structural functionalism. Emerson's perspective was similar to Blau's since they both focused on the relationship power had with the exchange process. Emerson says that social exchange theory is an approach in sociology that is described for simplicity as an economic analysis of noneconomic social situations. Exchange theory brings a quasi-economic form of analysis into those situations.

Lévi-Strauss

Social exchange theorist in anthropology. He is recognized for contributing to the emergence of this theoretical perspective from his work on anthropology focused on systems of generalized exchange, such as kinship systems and gift exchange. He based his kinship systems on Mauss's investigation. As it works in the form of indirect reciprocities, Levi-Strauss suggest the concept of generalized exchange.

See also

• Complexity science
• Equity theory
• Institutional
• Interdependence
• Open innovation
• Predicted outcome value theory
• Rational agent
• Social action
• Social good
• Social interaction
• Social networks
• Value conversion
• Value (economics)
• Value network
• Value network analysis
• Vulnerability and care theory of love