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Social exchange theory views exchange as a social behavior that may result both in economic and social outcomes. [17] Social exchange theory has been generally analyzed by comparing human interactions with the marketplace. The study of the theory from the microeconomics perspective is attributed to Blau. [6]
Exchange Theory is the "perspective that individuals seek to maximize their own private gratifications. It assumes that these rewards can only be found in social interactions and thus people seek rewards in their interactions with each other". [21] Homans' Exchange Theory propositions are partially based on B.F. Skinner's behaviorism.
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.
The Gift has been very influential in anthropology, [3] where there is a large field of study devoted to reciprocity and exchange. [4] It has also influenced philosophers, artists, and political activists, including Georges Bataille, Jacques Derrida, Jean Baudrillard, and more recently the work of David Graeber and the theologians John Milbank and Jean-Luc Marion.
Exchange theory explains how economic transactions, trade in favor, communication of information, or other exchanges are affected by the structure of the relationships among the involved participants. [2] The main idea is that the act of exchange is influenced by the agents’ opportunities and their environment.
Within the gift exchange game, it has been identified within numerous large-scale studies that the higher the gift the higher the quality levels or effort put in. [31] An example of reciprocity due to social norms was a field study conducted by the University of Bon to investigate the gift exchange theory in a natural setting. Findings found ...
Emmanuel's theory of unequal exchange was part of a more comprehensive explanation of the post-war capitalist economy. In Emmanuel's view, because selling had to take place without the income generated by the sale itself, there was a permanent excess of (the value of) goods over (the purchasing power of) income in the normal workings of a ...