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- A limitation of this theory is that some people are offended by the cost/benefit explanation.
- Attempts to explain individual behaviour and needs and pays less attention to family dynamics.
Social Exchange Theory
by Dasha, Renu and Ramsha
Example 2: Career Choice ( Wealth vs. Interest )
- A person may debate between choosing a job he/she enjoy doing, and a job that provides better financial stability.
In this case, costs and benefits depend on personal values and occurring events in individual's life.
THEORY DESCRIPTION
Costs and Benefits
- Also known as "balanced-based theory"
- Proposes that social behavior is the result of an exchange process. It is the process of cost and benefit between two individuals.
- Theory suggests, that people weigh the potential benefits and risks of social relationships. When the risks are high, people usually abandon the relationship.
+ Benefits are rewarding because they meet a perceived need and can include physical or emotional security, access to goods and services, and social approval.
- The costs of a relationship are those actions that meet a perceived need of another, such as providing support or sharing goods and services.
Theory Weaknesses:
Relationships:
According to this theory, a person who feels that the cost of his or her romantic relationship outweighs it's benefits will most likely leave the relationship.
Social exchange theory borrows from Symbolic Interactionism, by saying that people interpret their experiences of self and others to determine the benefits and costs.
Therefore, the benefits and costs of a relationship are not facts, but are perceptions formed by individual.
Example 1: Asking someone on a date.
- If the person agrees, other individual receives a reward. In that case, person is more likely to continue interaction.