The Social Exchange Theory

The social exchange theory refers to relationships and interactions that are based on estimates of rewards and punishments. This theory is extremely important in society because many people have a cost versus benefit mindset. Whether or not the reward of a decision is worth the cost is a common thought or question in society. This idea is commonly found in studies of economics around the world. The social exchange theory explains many people’s behaviors and mindset when it comes to everyday choices. To understand this theory it is important to discuss the theorists who developed it, criticism and differing opinions, and connect it to observations in common situations.
George Homans was one of the first sociologists to define the exchange
Taking AP or IB classes in high school may cost students more of their time and take away from other activities like hanging out with friends. The classes also have a heavier workload and the work is often more difficult than on level classes. In return they could get college credit, be better prepared for college classes and be more likely to be accepted to certain schools. Without the possibility of attaining the benefits, most students would not take the difficult, advanced classes. This goes beyond individuals in the exchange theory to the idea of exchange between an individual and an institution. The education system is an institution that rewards students with good grades and test scores if they work hard and do well. Sports are other activities in schools where the exchange theory can be seen. Student athletes sacrifice their time, energy, and sometimes even money to hopefully get the reward of going on to a career in that sport, getting college scholarships, or simply winning. Many people think that winning is worth spending countless hours training, practicing, and playing that sport. This applies to both high school and college athletes in a way though there are a few differences, one being that college athletes have the opportunity to go on to play pro sports. Being a student athlete takes a toll on the person not only physically but mentally, especially when it comes to their studies. With so much time spent on sports, sometimes the student’s grades suffer though there are many resources available to them. So in this instance there is some give and take but despite the long hours and hard work, there are many resources and opportunities for student