Do you have questions or concerns like these?
- What is Social Exchange Theory?
- What is a concrete example of Social Exchange Theory?
If you’re grappling with such questions and uncertainties, this time I will clearly explain:
- Overview
- A concrete example based on my experience
Please refer to this article to deepen your understanding of Social Exchange Theory.
What is Social Exchange Theory?
Social Exchange Theory is a theory developed at the intersection of sociology, psychology, and economics, explaining how people form, maintain, and dissolve social relationships.
The fundamental idea of this theory is that human relationships are formed and sustained through the exchange of benefits.
Background of the Theory
This theory was proposed by George Homans in 1958.
Homans believed that human behavior is similar to economic behavior, where individuals aim to maximize gains and minimize losses.
He argued that the balance of rewards and costs is crucial in social behavior.
Key Concepts
Rewards and Costs
Rewards refer to the benefits or satisfaction individuals gain from others, while costs refer to the efforts or sacrifices needed to maintain the relationship.
Norm of Reciprocity
Based on the principle of reciprocity, individuals feel obligated to return something for the benefits received from others.
Equity Theory
People are most satisfied when they perceive relationships as fair.
Feelings of inequity can lead to instability in relationships.
Applications
Social Exchange Theory is applied in various contexts, such as workplace relationships, romantic relationships, and friendships.
For example, in the workplace, a supervisor might offer promotions or bonuses as rewards, while employees demonstrate high performance and loyalty in return.
Modern Perspectives
In contemporary research, Social Exchange Theory is also applied to social networking and online communication in the digital age.
It has been shown that online interactions also depend on the balance of rewards and costs.
What is a concrete example of Social Exchange Theory?
Morning Routine
My day begins with a healthy breakfast.
Eating an apple and a banana provides me with the energy I need, supplemented by nuts and dark chocolate for additional nutrients.
These meals fuel my activities throughout the day and enhance my concentration.
From the perspective of Social Exchange Theory, these actions can be seen as investments in myself.
The effort (cost) to maintain my health translates into the reward of sustained energy and well-being.
Academic and Research Activities
In my graduate studies, Social Exchange Theory plays a crucial role.
Conducting research in marketing and consumer behavior, I prioritize collaborative relationships with colleagues and professors.
For instance, sharing tasks such as data collection and analysis and providing mutual feedback leads to higher quality research outcomes.
The rewards here are academic success and recognition, while the costs involve time and effort.
Maintaining this balance is key to sustaining productive research relationships.
Hobbies and Relaxation
Watching anime movies and reading business books are essential relaxation methods for me.
These activities help reduce daily stress and provide mental refreshment.
From the perspective of Social Exchange Theory, these hobbies are rewards to myself.
The stress and demands of work and studies (costs) are balanced by the leisure and relaxation time (rewards).
Interaction with Friends and Family
Interactions with friends and family are also based on Social Exchange Theory.
For example, valuing time spent with friends over meals or with family strengthens emotional support and shared enjoyment.
In these relationships, I emphasize mutual benefit exchange.
Investing time and effort into these relationships results in the reward of strengthened trust and connection.
This article uses material from the Wikipedia article “Social exchange theory” which is released under the Creative Commons Attribution-Share-Alike License 4.0. Additionally, the texts and images were generated using ChatGPT.