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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. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. [ 1 ]
George C. Homans. George Caspar Homans (August 11, 1910 – May 29, 1989) was an American sociologist, founder of behavioral sociology, the 54th president of the American Sociological Association, and one of the architects of social exchange theory. Homans is best known in science for his research in social behavior and his works The Human ...
The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way relationship between leaders and followers. [1]The latest version (2016) of leader–member exchange theory of leadership development explains the growth of vertical dyadic workplace influence and team performance in terms of selection and self-selection of informal ...
Generalized exchange theory believes that there is a social consensus out of commonly shared value or lifestyle that exchange does not require an immediate reciprocity but promise another activity, which, after several iterations, closes the cycle.
Interdependence theory. Interdependence theory is a social exchange theory that states that interpersonal relationships are defined through interpersonal interdependence, which is "the process by which interacting people influence one another's experiences" [1] (Van Lange & Balliet, 2014, p. 65). The most basic principle of the theory is ...
Marxism. In political economy and especially Marxian economics, exchange value (German: Tauschwert) refers to one of the four major attributes of a commodity, i.e., an item or service produced for, and sold on the market, the other three attributes being use value, economic value, and price. [1] Thus, a commodity has the following:
In Social exchange, it is the exchange of approval and certain other valued behaviors. Rational Choice Theory in this instance, heavily emphasizes the individual's interest as a starting point for making social decisions.
t. e. Alliance theory, also known as the general theory of exchanges, is a structuralist method of studying kinship relations. It finds its origins in Claude Lévi-Strauss 's Elementary Structures of Kinship (1949) and is in opposition to the functionalist theory of Radcliffe-Brown. Alliance theory has oriented most anthropological French works ...