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Social Exchange Theory

Social exchange theory indicates that social behaviour is the result of an exchange process. This exchange process aims to maximise benefits and minimise costs. According to sociologist George Homans, who developed this theory, people bank on the potential benefits and risks of social relationships. When the risks exceed the rewards, people tend to terminate or abandon the relationship.

Now, the essence of this theory and its practical application may seem a bit difficult to understand at first. So, if you need any help with your assignment on the same topic, do not hesitate to get the necessary help from the experts at MyAssignmenthelp.com. Here, you can find hundreds of qualified experts with advanced knowledge of the specific topic.

What Is the Social Exchange Theory?

The basic definition of social exchange theory says that people make decisions by consciously or subconsciously measuring the costs and benefits of a relationship or action, ultimately trying to boost their reward. This theory puts stress on face-to-face relationships and is not meant to determine behaviour or change at a societal level.

In simpler words, the theory explains that a person will compare the cost of social interaction with the reward of that social interaction. These costs and rewards can be material, like an award, money or service, or something intangible, like social approval, love, or respect. Every individual wants to get more from a relationship or interaction that they give.

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Assumptions of Social Exchange Theory

There are a number of assumptions that make up this social exchange theory. The most prominent ones are:

• Social behaviours involve of value.
• People pursue social exchanges where they are supposed to get more rewards than their costs.
• People are more likely to retain some value when they have to give up something.
• Rewards and costs can be material or immaterial things.
• People abandon or terminate relationships when they believe the costs are higher than the rewards.
• People expect to be rewarded similarly when they incur the same costs. It is often referred to as the equity of exchange.
• While measuring reward vs costs, people compare to their expectations, previous experiences, or alternatives/
• People understand that adequate rewards vs costs differ from one relationship to the other as well as within the same relationship over time.

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An Example of Social Exchange Theory

Let's discuss an example of this theory for better understanding. Imagine you are asking someone to go to the prom with you. If the person says yes, you have received a reward and are likely to repeat the tradition next year as well. On the contrary, if you have gotten "No" for an answer, you will not even try to ask the same person the next year.

That explains the basics of the theory. However, if you want to check out an assignment sample on this topic for reference, you can access our repository for free. Moreover, we have a wide range of academic writing services to help you with your assignments.

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How Social Exchange Works?

It is important to understand that the rewards and costs for social exchange vary from one relationship to another and within the same relationship from one point to another. As set by comparison levels, the expectations of a person allow the theory to be viewed on a sliding scale, which adjusts on an individual basis. Suppose the personal relationship samples of an individual are set on a certain level. In that case, the person will tend to use such a level as a baseline for all his/her future relationships.

Such levels of expectation can often work in association with another core concept of the theory's functionality costs vs benefits. It establishes a “give and take” metric that can be analysed and determined how much effort an individual is willing to make in the relationship.

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Matrices in Social Exchange Theory

People develop patterns of exchange to cope with power differentials and handle the costs associated with exercising power. Such patterns describe behavioural rules or norms that suggest how people trade resources to boost rewards and reduce costs. There are three different matrices that illustrate the patterns developed by people.

• The given matrix highlights the behavioural choices and results that can be determined by a combination of external factors and internal factors.
• The effective matrix represents an expansion of alternative behaviours and/or results that ultimately identifies the behavioural choices in social exchange.
• The dispositional matrix highlights the way two people believe that rewards should be exchanged between them.

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