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Social exchange theory

🧠 Psychology By CampusDown Wiki Editorial Team Last updated
Social exchange theory holds that people start, maintain and end relationships by weighing the rewards they receive against the costs they pay. George Homans, John Thibaut and Harold Kelley, and Peter Blau developed it in the 1950s and 1960s.
Contents
  1. 1. What is social exchange theory?
  2. 2. Rewards and costs
  3. 3. Comparison level and alternatives
  4. 4. Reciprocity and power
  5. 5. Criticisms and related theories
  6. 6. Frequently asked questions
  7. 7. References

What is social exchange theory?

Social exchange theory holds that people start, maintain and end relationships by weighing the rewards they gain against the costs they pay. Sociologist George Homans laid out the framework in his 1958 article "Social Behavior as Exchange," and psychologists John Thibaut and Harold Kelley and sociologist Peter Blau developed it further.

📌 At a glance
Meaning
Explains relationships as exchanges of rewards and costs
Key scholars
Homans (1958), Thibaut & Kelley (1959), Blau (1964)
Core concepts
Rewards, costs, comparison level, comparison level for alternatives, reciprocity
Applications
Romance and marriage, friendship, workplaces, organizations

Rewards and costs

Rewards include praise, recognition, emotional support, information and money; costs include time, effort, conflict and forgone opportunities. Homans treated social behavior as an exchange not only of material goods but also of non-material goods such as approval and esteem.

Comparison level and alternatives

Why do some people stay in relationships they complain about? Thibaut and Kelley distinguished two standards. The comparison level (CL) is what a person expects a relationship to provide, and it determines satisfaction. The comparison level for alternatives (CLalt) is the best available alternative to the current relationship, and it determines whether the person stays. So a relationship can last even when it is unsatisfying, if no better alternative seems available.

SituationSatisfactionStability
Outcomes above CL and above CLaltHighStable
Outcomes below CL but above CLaltLowStays despite dissatisfaction
Outcomes above CL but below CLaltHighMay leave

Reciprocity and power

Blau argued that exchange builds trust and reciprocity (the norm that what you receive you should return), and that unequal resources create power differences. Leader–member exchange theory, which looks at exchange between supervisors and employees, belongs to this tradition.

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Critics say the theory portrays people as overly calculating and struggles to explain unconditional giving in love and family. See social penetration theory for how rewards drive deepening relationships and relational dialectics theory for contradictory needs.

Frequently asked questions

What is social exchange theory?
A theory that treats relationships as exchanges of rewards and costs, with people staying when they perceive net benefits.
What is the difference between CL and CLalt?
CL determines satisfaction with a relationship; CLalt determines whether a person stays or leaves.
What are its limitations?
It can portray people as too calculating and does not fully explain unconditional love or commitment.

References

  1. Homans, G. C. (1958). Social behavior as exchange. American Journal of Sociology, 63(6), 597–606.
  2. Thibaut, J. W., & Kelley, H. H. (1959). The social psychology of groups. Wiley.
  3. Blau, P. M. (1964). Exchange and power in social life. Wiley.

Reports and materials that use this theory (Korean)

There are no materials dedicated to this theory yet, but you can search related reports in the CampusDown library (Korean).

Find more reports · Search '사회교환이론' on CampusDown →
Leader-Member Exchange Theory (LMX)Leader-member exchange (LMX) theory explained: origins in the vertical dyad linkage model, in-groups and out-groups, Graen and Uhl-Bien's leadership-making stages, the LMX-7 measure, links to performance and turnover, and fairness critiques.💼 BusinessSocial penetration theoryWhat is social penetration theory? Irwin Altman and Dalmas Taylor’s 1973 onion model, the breadth and depth of self-disclosure, stages of relationship development, reciprocity, rewards and costs, depenetration, and links to the Johari window and online self-disclosure.🧠 PsychologyRelational dialectics theoryWhat is relational dialectics theory? Baxter and Montgomery’s 1996 framework, the tensions of autonomy and connection, openness and closedness, predictability and novelty, internal and external tensions, coping strategies, and examples.🧠 PsychologyFundamental attribution errorWhat is the fundamental attribution error? Lee Ross’s 1977 term, Jones and Harris’s 1967 Castro essay experiment, the related correspondence bias, everyday examples, the actor–observer bias, cultural differences, explanations from Gilbert and Malone, and ways to reduce it.🧠 PsychologySelf-perception theoryWhat is self-perception theory? Daryl Bem’s 1972 account of inferring attitudes from our own behavior, how it differs from cognitive dissonance theory, the overjustification effect, foot-in-the-door, and practical uses for habits and study.🧠 PsychologyHerzberg’s two-factor theoryWhat is Herzberg’s two-factor (motivation-hygiene) theory? The 1959 Pittsburgh study, motivators such as achievement and recognition, hygiene factors such as pay and working conditions, job enrichment, comparison with Maslow, and criticisms.💼 Business

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This article was last updated on October 23, 2026. It is based on widely recognized original works and textbooks; when citing it in a paper, please check the original sources listed in the references.