(Costs can be time, money, effort etc.) Rewards are the elements of a relationship that have positive value.(Rewards can be sense of acceptance, support, and companionship etc.) As with everything dealing with the social exchange theory, it has as its outcome satisfaction and dependence of relationships.In such a model, mutual relationship satisfaction ensures relationship stability.

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It is also used quite frequently in the business world to imply a two-sided, mutually contingent and rewarding process involving transactions or simply exchange.

After Homans founded the theory, other theorists continued to write about it, particularly Peter M. Emerson, who in addition to Homans are generally thought of as the major developers of the exchange perspective within sociology.

On the contrary, a negative number indicates a negative relationship.

The worth of a relationship influences its outcome, or whether people will continue with a relationship or terminate it.

They also highlighted social implications of different forms of interdependence such as reciprocal control.

Under his perspective every individual is trying to maximize his wins.

You surely have days (or at least did when you were single) when you wonder how you will ever find the right life partner. So I’m happy to share four ideas that were so insightful in the world of economics that they won Nobel Prizes – and how you can apply them to find the perfect mate online.

Invariably, you come back to the same old realization: “I need the advice of an economist. In a nutshell, my advice is to go big, beware the assumptions that will be made about you, put your money where your mouth is, and settle.

Blau stated that once this concept is understood, it is possible to observe social exchanges everywhere, not only in market relations, but also in other social relations like friendship.

Social exchange process brings satisfaction when people receive fair returns for their expenditures.

By studying such forms of behavior he hoped to illuminate the informal sub-institutional bases of more complex social behavior, typically more formal and often institutionalized.