What Is Social Exchange Theory?

Social exchange theory is a social psychological and sociological perspective that explains social change and stability as a process of negotiated exchanges between parties. Most exchanges are done with an expectation of reciprocity. Reciprocity is the expectation that people will respond to each other in similar ways. You repay a kind gesture with a kind gesture, a tit-for-tat kind of thing. Social exchange theorist argue that the choices we make are Guided by subjective evaluative processes. When the benefits of an action are high and the costs are low, the action will be valued. Social exchange there's also say that humans are fundamentally concerned with self-interest, we make rational decisions based on weighing cost and rewards of the