Social Exchange Theory

Thibault & Kelly 1959:

- They propose that relationships are like business transactions and are maintained if it involves profit. 

- Known as an "economic theory" and involves rewards and costs analysis. Rewards - Costs = Profits

- Relationships maintained as long as benefits out ways the costs. 

- In a relationship we attempt to maximise our benefits and minimise our costs. This is known as the 'minimax' stratergy.

We measure this by:

- Comparison level = Compare our current level of profit to the level of profit in a previous relationship. If current relationship is higher, the relationship is seen to be worthwhile. 

- Compariosn level for alternatives = Compare current level of profit to possible alternatives. If the current…