Social Exchange Theory

• What do many psychologists believe is key to maintaining a relationship?

  Mutual benefits
• Why are social exchange theories considered economic theories?

  They use economic concepts
• Who proposed the Social Exchange Theory (SET)?

  Thibault & Kelley
• What is the 'minimax' principle in SET?

  Maximize rewards and minimize costs
• What does the outcome of a relationship equal in SET?

  Rewards minus costs
• When do we commit to a relationship according to SET?

  If the outcome is profitable
• How are rewards and costs viewed in SET?

  They are subjective
• How can the value of rewards and costs change over time?

  They can change as relationships develop
• In Scenario 1, what is the main cost of the relationship?

  Long-distance and costly in time and money
• In Scenario 2, what is a positive aspect of the relationship?

  Comfortable and has friends in common
• What does CL stand for in SET?

  Comparison Level
• What influences our Comparison Level (CL)?

  Previous relationships and social norms
• What does CLalt stand for in SET?

  Comparison Level of Alternatives
• What do we consider when evaluating CLalt?

  Potential rewards and costs from alternatives
• What happens if the costs of a current relationship outweigh the rewards?

  Alternatives become more attractive
• What are the four stages of long-term relationships proposed by Thibault & Kelley?

  1. Stage 1: Initial contact
  2. Stage 2: Development
  3. Stage 3: Maintenance
  4. Stage 4: Dissolution
• What is the task related to the party scenario in the study material?

  Match stages to their definitions
• What is often more important than profit in relationships?

  Fairness
• What are the steps to evaluate a celebrity or fictional couple using SET?

  1. List profit and loss
  2. Determine comparison level
  3. Assess relationship validity
• How did Wills and Kate's relationship begin according to the study material?

  They met at university
• What benefits might Kate gain from marrying Prince William?

  Wealth and social status
• What benefits would William gain from marrying Kate?

  Emotional support and companionship
• What costs could be involved in Wills and Kate's relationship?

  Public scrutiny and pressure
• How are Wills and Kate still together according to SET?

  They perceive the relationship as rewarding
• What are the strengths of Social Exchange Theory?

  • Research supports key concepts
  • Predicts commitment in couples
  • Valid in various relationship types
• What is the key to maintaining a relationship according to many psychologists?

  That the relationship is mutually benefiting
• What type of theories are theories that use economic concepts?

  Economic theories
• What are the key principles of Social Exchange Theory (SET)?

  • We form a relationship if it is rewarding
  • We attempt to maximize our rewards and minimize our costs
  • The rewards minus the costs equals the outcome
  • We commit to the relationship if the outcome is profitable
• What is the formula for the outcome in Social Exchange Theory?

  Rewards - Cost = Outcome
• Why are rewards and costs subjective in Social Exchange Theory?

  Because what is considered a reward or cost can vary between individuals and change over time
• What are the two ways we measure the profit in a romantic relationship according to Social Exchange Theory?

  1. Comparison Level (CL): The amount of reward you believe you deserve to get
  2. Comparison Level of Alternatives (CLalt): Whether you believe you could gain greater rewards and fewer costs from another relationship
• How does Comparison Level (CL) influence relationships in Social Exchange Theory?

  CL comes from past relationship experiences and social norms, and determines the level of reward you expect
• How does Comparison Level of Alternatives (CLalt) influence relationships in Social Exchange Theory?

  CLalt determines whether we believe we could gain greater rewards and fewer costs from another relationship or being single
• What are the 4 stages of Thibaut & Kelley's model of long-term relationships?

  The 4 stages are:

  1. The Party
  2. [MISSING]
  3. [MISSING]
  4. [MISSING]
• In the party scenario, which one best describes your actions?

  You came to the party with some homemade lemonade. During the party you didn't eat or drink anything
• How does the Social Exchange Theory explain the relationship between Prince William and Kate Middleton?

  The benefits Kate gets from marrying Prince William (a handsome, rich, caring prince) outweigh the costs, and the benefits William gets from marrying Kate also outweigh the costs, allowing them to stay together despite initial doubts
• What are the strengths of the Social Exchange Theory according to the passage?

  Research supporting some of its concepts, and the theory's ability to predict commitment in both homosexual and heterosexual couples
• What are the weaknesses of the Social Exchange Theory according to the passage?

  The concepts are vague, it is difficult to define and measure rewards/costs and comparison levels, and it makes inappropriate assumptions that all relationships are based on costs and rewards
• Why does the passage suggest that a holistic approach may be better suited to studying romantic relationships than the Social Exchange Theory?

  Because the Social Exchange Theory's focus on costs, rewards, and profit/loss limits its ability to explain the full complexity of real-life romantic experiences, such as why people stay in abusive relationships
• What are the 4 stages of Thibaut & Kelley's model of long-term relationships?

  The 4 stages are:

  1. The Party
  2. The Courtship
  3. The Establishment
  4. The Deterioration