Glossary / Lexicon

Social exchange theory refers to a theory, based on the principle of reinforcement, that assumes that people will choose actions that maximize rewards and minimize costs; theory that seeks to understand social behavior by analyzing the costs and benefits of interacting with each other. Moreover, Social exchange theory is the theory which holds that how people feel about a relationship depends on their perceptions of the rewards and costs of the relationship, the kind of relationship they deserve, and their chances for having a better relationship with someone else; a theory stating that rewards must exceed costs for relationships to endure; the idea that interpersonal relationships are governed by perceptions of the rewards and costs exchanged in interactions.