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Exchange Theory

Exchange Theory. Key Concepts. Rewards And Costs . . . again! Focus is on the give-and-take of economic transactions: “profit” Rewards may be material or symbolic Costs may be punishments or foregone rewards Value of costs/rewards is subjective. “Humans seek rewards and avoid costs”.

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Exchange Theory

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  1. Exchange Theory

  2. Key Concepts • Rewards And Costs . . . again! • Focus is on the give-and-take of economic transactions: “profit” • Rewards may be material or symbolic • Costs may be punishments or foregone rewards • Value of costs/rewards is subjective

  3. “Humans seek rewards and avoid costs” Exchange Resources (Rewards) • Blau: Personal attraction, social acceptance, social approval, instrumental services, respect/prestige, and compliance/power • Foa & Foa: Love, status, services, goods, information, and money • Merton and Davis: Race and caste • Gonzales & Meyers:Attractiveness, financial security, expressiveness, instrumentality, sincerity, and sex Actors behave in ways that increase outcomes they positively value and decrease outcomes they negatively value.

  4. Men want looks and women want success Desired Personal Characteristics

  5. Women sell looks and men sell success Offered Personal Characteristics

  6. What White Heterosexual Men Demand Of Their Mates Note the higher requirements for Black women

  7. Key Concepts • Rewards And Costs . . . again! • Focus is on the give-and-take of economic transactions: “profit” • Rewards may be material or symbolic • Costs may be punishments or foregone rewards • Value of costs/rewards is subjective • Rational Decision-Making • Unlike SLT, this theory assumes we can look forward AND backward • Rational doesn’t mean “unemotional” • As with any “rational” choice, we don’t know the actual consequences

  8. Key Concepts • Rewards And Costs . . . again! • Focus is on the give-and-take of economic transactions: “profit” • Rewards may be material or symbolic • Costs may be punishments or foregone rewards • Value of costs/rewards is subjective • Rational Decision-Making • Unlike SLT, this theory assumes we can look forward AND backward • Rational doesn’t mean “unemotional” • As with any “rational” choice, we don’t know the actual consequences

  9. Key Concepts • Social Exchange And Alternatives • Principle of Least Costs • Comparison Levels (CL) • Comparison Level For Alternatives (CLalt) • Social Exchange And Power • Power is an actor’s ability to achieve a favorable outcome at the expense of another. It’s a quality of relationships, not individuals! • Power Imbalances • Bases Of Power • Bases of power are different for different partners in exchange • Bases of power are dependent on alternative partners • Bases of power can be undone by coalitions • Principle of Least Interest

  10. Key Concepts • Social Exchange And Alternatives • Principle of Least Costs • Comparison Levels (CL) • Comparison Level For Alternatives (CLalt) • Social Exchange And Power • Power is an actor’s ability to achieve a favorable outcome at the expense of another. It’s a quality of relationships, not individuals! • Power Imbalances • Bases Of Power • Bases of power are different for different partners in exchange • Bases of power are dependent on alternative partners • Bases of power can be undone by coalitions • Principle of Least Interest

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