1. Exchange Theory

2. Key Concepts Rewards And Costs . . . again!
Focus is on the give-and-take of economic transactions: “profit”
Rewards may be material or symbolic
Costs may be punishments or foregone rewards
Value of costs/rewards is subjective

3. “Humans seek rewards and avoid costs”
Exchange Resources (Rewards)
Blau: Personal attraction, social acceptance, social approval, instrumental services, respect/prestige, and compliance/power
Foa & Foa: Love, status, services, goods, information, and money
Merton and Davis: Race and caste
Gonzales & Meyers: Attractiveness, financial security, expressiveness, instrumentality, sincerity, and sex
Actors behave in ways that increase outcomes they positively value and decrease outcomes they negatively value.

4. Desired Personal Characteristics
Men want looks and women want success

5. Offered Personal Characteristics
Women sell looks and men sell success

6. What White Heterosexual Men Demand Of Their Mates
Note the higher requirements for Black women

7. Key Concepts Rewards And Costs . . . again! Rational Decision-Making
Focus is on the give-and-take of economic transactions: “profit”
Rewards may be material or symbolic
Costs may be punishments or foregone rewards
Value of costs/rewards is subjective
Rational Decision-Making
Unlike SLT, this theory assumes we can look forward AND backward
Rational doesn’t mean “unemotional”
Decision-making has both internal and external barriers

8. Key Concepts Rewards And Costs . . . again! Rational Decision-Making
Focus is on the give-and-take of economic transactions: “profit”
Rewards may be material or symbolic
Costs may be punishments or foregone rewards
Value of costs/rewards is subjective
Rational Decision-Making
Unlike SLT, this theory assumes we can look forward AND backward
Rational doesn’t mean “unemotional”
Decision-making has both internal and external barriers
Interdependence and Reciprocity
Restricted (low-trust) and generalized (high-trust) exchanges
Positions affect value of resources
Positions (horizontal, vertical, central) affect exchange opportunities

9. Horizontal
Central
Vertical

10. Key Concepts Social Exchange And Alternatives
Principle of Least Costs
Comparison Levels (CL)
Comparison Level For Alternatives (CLalt)
Social Exchange And Power
Power is an actor’s ability to achieve a favorable outcome at the expense of another. It’s a quality of relationships, not individuals!
Power Imbalances
Bases Of Power
Bases of power are different for different partners in exchange
Bases of power are dependent on alternative partners
Bases of power can be undone by coalitions
Principle of Least Interest

11. Key Concepts Social Exchange And Alternatives
Principle of Least Costs
Comparison Levels (CL)
Comparison Level For Alternatives (CLalt)
Social Exchange And Power
Power is an actor’s ability to achieve a favorable outcome at the expense of another. It’s a quality of relationships, not individuals!
Power Imbalances
Bases Of Power
Bases of power are different for different partners in exchange
Bases of power are dependent on alternative partners
Bases of power can be undone by coalitions
Principle of Least Interest