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An example of a risk that could occur during the reciprocal exchange is the factor that the second party could end up not returning the favor and completing the reciprocal exchange. Binding negotiated exchanges involve the least amount of risks which will result the individuals feeling low levels of uncertainty.
Another example of a social preference is positive reciprocity, which is displayed in the gift exchange game. [7] The gift exchange game involves Player 1 either keeping set amount of money, or offering an even larger amount to Player 2. Player 2 is then able to decide how they wish to divide the money between the two of them.
Exchange, generalized or otherwise, is an inherently social construct. Social dynamics set the stage for an exchange to occur, between whom the exchange occurs, and what will happen after the exchange occurs. For example, exchange has been shown to have effects on an individual's reputation and standing.
As these examples suggest, reciprocity enjoyed a cultural prestige among ancient aristocracies for whom it was advantageous. [12] The institutionalization of reciprocity has its origins in ancient societies, but continues today in politics and popular culture. For more, see Reciprocity (social and political philosophy).
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).
Social psychology utilizes a wide range of specific theories for various kinds of social and cognitive phenomena. Here is a sampling of some of the more influential theories that can be found in this branch of psychology. Attribution theory – is concerned with the ways in which people explain (or attribute) the behaviour of others. The theory ...
Transactional leadership (or transactional management) is a type of leadership style that focuses on the exchange of skills, knowledge, resources, or effort between leaders and their subordinates. This leadership style prioritizes individual interests and extrinsic motivation as means to obtain a desired outcome.
In the psychology of motivation, balance theory is a theory of attitude change, proposed by Fritz Heider. [1] [2] It conceptualizes the cognitive consistency motive as a drive toward psychological balance. The consistency motive is the urge to maintain one's values and beliefs over time.