Question

Summarize the concept of exchange theory explain how advancements in psychology and behaviorism have affected Exchange theory. Cite 2 sources please

Answer 1

Summarize the concept of exchange theory. explain how advancements in psychology and behaviorism have affected Exchange theory.

Social exchange theory or exchange theory is one of the concepts from the sociological perspectives , which states that social exchange as well as stability are processes of negotiations that take place between different parties. This identifies that the relationships between humans is as a result of the analysis of a subjective cost benefit, and when the people look into various alternatives. This could be found in sociology, economics as well as psychology. There are many assumptions in this theory.

With the advances in behaviourism along with psychology, there have been advances in the theory. In psychology, it explains that aocial behavior is only due to exchanges. This exchange is done so that costs could be minimised and benefits could be maximised. This theory states that people would be weighing the costs while forming social relationships. With psychology and behavior advent, behavior as exchange was identified.