Social Exchange Theory

Abstract

Social exchange theory is an influential approach to the study of society, generating much recent research. Rather than a theory that explains precisely the nature of some social phenomenon, social exchange theory is an orienting strategy or perspective that shapes the way exchange researchers develop theories and conduct research (social conflict theory is another example of an orienting strategy). From the perspective of social exchange theory, society can be characterized as an exchange system in which social interaction consists of trade in valued resources. Resources exchanged can include any combination of consumable goods, money, affection, attention, and perhaps most basically, information.