Social Exchange Theory

• Maintaining a relationship involves an interaction between partners, who each have their own needs and expectations
• Social exchange theory explains this process of maintenance by focusing on rewards partners obtain from a relationship, weighted against costs incurred
• Examples of costs are time, stress, energy, missed opportunities and family/friend disapproval
• Examples of rewards are companionship, sex, emotional support and children
• Because the rewards and costs are traded with a partner, people try to use a minimax strategy (minimising costs and maximising rewards) that they are likely not doing consciously
• Social exchange theory was proposed by Thibault and Kelley (1959) and is an economic explanation of relationship maintenance based on behaviourist ideas
• Social exchange theory assumes all social interactions are a series of exchanges
• Each exchange involves costs and reward, and when assessing whether a relationship is worthwhile we assess costs against rewards
• This theory assumes individuals in romantic relationships act out of self-interest
• The assumption is that a satisfying and committed relationship is maintained when rewards exceed costs
• The theory means that a partner is getting more out of the relationship than they put into it and that potential alternatives are less attractive than the current relationship
• The comparison level (CL) is based on past experiences and general expectations and comparing reward and cost of a current relationship against these expectations and use this to judge profit. If we judge that profit exceeds the CL the relationship will be maintained
• The comparison level for alternative relationships (CLalt) is when the rewards and costs of current relationship are compared against potential rewards and costs in alternative relationships. If a person believes they could gain more rewards and less costs elsewhere, they’ll end a current relationship so a new one can take place
• The sampling stage is when people explore the rewards and costs of social exchange by experimenting with them in their own relationships
• The bargaining stage is when a romantic partner starts exchanging various rewards and costs, negotiating and identifying what is more profitable
• The commitment stage is when the sources of costs and rewards become more predictable and the relationship becomes more stable as rewards increase and costs lessen
• The institutionalisation stage is when the partners are now settled down because the norms of the relationship, in terms of rewards and costs are firmly established