Social Exchange and Rational Choice Theory
Summary
The essence of Social Exchange Theory (SET) and Rational Choice Theory (RCT) lies in their analytical approach to human behavior, relationships, and decision-making processes through the lens of cost-benefit analyses and rationality.
- SET posits that human relationships are formed and maintained based on a cost-benefit analysis, using economic principles to explain behaviors.
- RCT, evolving from SET, broadens the scope to include all human behaviors and decisions, emphasizing that actions are rational if they are goal-oriented, reflective, and consistent.
- Both theories acknowledge the role of rational decision-making in human interactions but differ in their focus; SET is concerned with relationships, while RCT applies to a wider range of behaviors.
- Critiques of these theories highlight their underestimation of emotions' impact on decision-making and their inability to account for self-sabotaging behaviors.
- Despite criticisms, both theories are valued for portraying individuals as logical decision-makers and promoting understanding and tolerance towards others' choices.
Chapters
00:00
Introduction to Social Exchange and Rational Choice Theories
00:25
Exploring Social Exchange Theory (SET)
02:52
Understanding Rational Choice Theory (RCT)
07:06
Critiques and Appreciation of SET and RCT
