Encyclopedia of Personality and Individual Differences

Living Edition
| Editors: Virgil Zeigler-Hill, Todd K. Shackelford

Social Exchange Theory

  • Karen S. Cook
Living reference work entry
DOI: https://doi.org/10.1007/978-3-319-28099-8_1184-1

Synonyms

Definition and Core Assumptions

Social exchange theory views social interaction as based on the mutual flow of resources or behaviors of value over time. The key assumptions of exchange theory (Molm and Cook 1995) include the following: (a) behavior is motivated by the desire to increase gain and to avoid loss; (b) exchange relations develop in structures of mutual dependence (both parties have some reason to engage in exchange to obtain resources of value); (c) actors engage in recurrent, mutually contingent exchanges with specific partners over time (i.e., they are not engaged in simple one-shot transactions); and (d) valued outcomes obey the economic law of diminishing marginal utility (or the psychological principle of satiation). Based on these core assumptions, various predictions are made about the behavior of actors engaged in exchange and the effects of different factors on the outcomes of exchange.

Introduction

The theory of social...

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Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Stanford UniversityStanfordUSA

Section editors and affiliations

  • Christian H. Jordan
    • 1
  1. 1.Wilfrid Laurier UniversityWaterlooCanada