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Rational Choice vs. Social Exchange Theory

DeKeisha Teasley and Hannah Dailey

Differences

Rational Choice

Social Exchange

Rational Choice

  • Individual level
  • Based on the process of mental states
  • Preferential ordering based on values and goals
  • Focuses on motivation within context
  • Assumes
  • 1. Completeness
  • 2. Transitivity
  • 3. Independence of Irrelevant Alternatives
  • Takes into account others
  • Interpersonal transactions
  • Equity
  • Assumes self-interest people interact with other self-interested people
  • Social behavior is a series of exchanges and seeks to explain social processes
  • May take into account emotional norms
  • Not altruistic
  • Rational procedures by which individual decides on actions
  • Methodological Individualism
  • Maximize profit
  • Utilitarian: choose what brings most satisfaction or most utility
  • Situation + Information + Scale of Preferences (based on beliefs and goals) => Preferential Order of Options

Social Exchange

Activity

Similarities

James S. Coleman

Social Exchange

Rational Choice

George C. Homans

Example

What do you have to offer me?

I want a sports car, but I have a child, and want to expand my family in the future.

Peter Blau

Richard Emerson

B

C

  • Rooted in economics, psychology, and sociology
  • Originated in utilitarian thinking
  • Values impact outcomes
  • Self-interest (based off of interest of others vs just the self)
  • Linear models
  • Rewards can be anything tangible or intangible (valuable)

A

>

mini van

car

sports car

Video

Social Exchange Theory attempts to explain how human social relationships are formed, maintained, and ended.

X

Comparison level

How did you select your cards?

determines or assesses satisfaction

What characteristics did you select, and how did you feel about them?

luxury car

Which characteristics did you view as rewarding/costly? Why?

Describe your strategy for revealing your characteristics to others and selecting partners? (i.e. Showing the best first and the worst last)

Comparison level for alternatives

Jennifer's Cost

  • Being with someone who is inconsiderate
  • Being with someone who takes her for granted
  • Being with someone who doesn't do things she enjoys

determines or assesses stability

Jennifer's Rewards

  • Staying with her husband who she's built a life with
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