Social Exchange Theory

Core Assumptions of the Exchange Framework

Embedded within the exchange framework are core assumptions about the nature of humans and social or “exchange” relationships. The assumptions about the nature of humans are summarized as follows:

• Individuals seek rewards and avoid punishments.
• When interacting with others, individuals seek to maximize profits for themselves while minimizing costs. Because it is not possible to truly know the actual rewards and costs involved in interacting within another before the interactions occur, individuals guide their behavior through their expectations for rewards and costs.
• Individuals are rationale beings and, within the limitations of the information that they possess, calculate rewards and costs and consider alternatives before acting.
• The standards that individuals use to evaluate rewards and costs differ from person to person and will vary over time.

The assumptions about the nature of exchange relationships are as follows:

• Exchange relationships are characterized by interdependence—that is, the ability to obtain profits in a relationship is contingent on the ability to provide others with rewards.
• Exchange relationships are regulated by norms like reciprocity, justice, and fairness.
• Trust and commitment result when relationships are consistently experienced as both rewarding and fair, and these help to stabilize relationships over the long term.
• Exchange relationships are characterized by the levels of attractions and dependence experienced by those participating in the relationship. It is the contrasting levels of attraction and dependence experienced by each partner in the relationship that determines the patterns of interaction found within the relationship and the stability of the relationship over time.

Core Exchange Concepts

The core exchange concepts can be classified as falling into the following broad categories.