Social Exchange Theory: Minimizing Costs, Maximizing Benefits - Essay Sample

Introduction

The social exchange theory is a sociological concept which argues that people tend to socialize based on an exchange process. Such exchange is meant to minimize the costs associated with being in a relationship with someone while maximizing benefits. The theory proposes that individuals weigh the likely risks and benefits of social relationships. If the risks outweigh the privileges, the average person will either abandon or terminate the relationship. The theory is closely related to social homogamy whereby an individual chooses to be in an intimate relation or marry another of similar social class or socioeconomic status. This essay analyzes the formation of relationships using the social exchange theory and social homogamy. It also examines the roles of each partner in the relationships and compares it to the norm in society.

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While most social relationships involve a certain degree of give-and-take, it does not mean that the two elements are always equal. According to the social exchange theory, it is the weighing of the costs and benefits of a relationship that determines whether or not a person chooses to continue the social interaction. Costs are the things that an individual perceives as negatives, such as having to invest in time, effort, and money into a relationship. For instance, a man with a girlfriend who is always demanding for expensive gifts may see this as a high cost. Benefits are the positive things that come from a relationship such as companionship, fun, friendship, and emotional support. In the above example, the girlfriend may be materialistic but she brings a lot of excitement and fun into the man's life. When determining the value of that relationship, the man may decide that the rewards outweigh the potential costs.

A good example of social homogamy is a lawyer dating another lawyer, or a doctor marrying a fellow doctor. However, it does not necessarily mean marrying someone with a similar occupation. Rather, it is about choosing someone with a similar socioeconomic standing. A doctor can marry a lawyer because both professions require an advanced education, are high paying, and are considered very prestigious. Social homogamy is one of the reasons why there is such a huge economic class divide in some developed countries. University graduates and professionals typically want to form relationships with other graduates and professionals. People in this demographic group often earn more than those outside it.

The absence of pairing of high-income earners and those who earn less contributes to wealth gap between social classes. When a wealthy person marries a middle- or low-class individual, the latter gets to move to a higher socioeconomic class. For example, a low-income waitress who marries a business tycoon is no longer poor. However, the opposite typically does not occur. A wealthy individual is unlikely to get pulled down in socioeconomic class simply by marrying from a lower class. All in all, when wealthy people marry others from the same class, both become richer in the process, leaving the poor where they were in the first place.

A notable role by partners in potential relationships when applying the social exchange theory involves analyzing comparison levels and expectations. While an analysis of cost-benefits is an important aspect of the social exchange process, so are the expectations. There is a certain way that individuals weigh the benefits of being in a relationship against its costs. It involves adopting a comparison level that is often influenced by past experiences and social expectations. A person who has always had poor friendships will establish much lower comparison levels at the start of a new friendship when compared to another who has always had many caring and supportive friends. A good example is a woman whose precious romantic partner showered her with displays of affection. Such an individual will have quite a high comparison level when it comes to amount of affection. If her next boyfriend tends to be less emotional and more reserved, he might not measure up to her expectations.

Another role of partners engaging in the social exchange process is to evaluate the possible alternatives. Once an individual analyses the benefits and costs of the relationship and contrasting them against their comparison levels, the next step may be to examine the possible alternatives. There may be a situation whereby the relationship does not measure up to the individual's comparison levels. However, as the person looks at the possible alternatives, he or she may determine that the relationship is still better than being with other potential partners available. Thus, the individual might look back and reconsider the relationship based on a somewhat lesser comparison level.

How long a romantic relationship or friendship lasts can also contributes to the social exchange process. It is worth examining the early days or weeks of a relationship that many often refer to as the 'honeymoon phase.' During this phase, people are likely not to give much thought into the social exchange balance. They tend to ignore, downplay, or dismiss things that would be considered high cost under normal circumstances. They also tend to exaggerate the potential benefits. All this often changes when the honeymoon phase eventually comes to an end. Most of the time, the individuals conduct a gradual evaluation of the social exchange balance. They will start viewing the benefits more realistically while the costs become more apparent. Such re-examination of the exchange balance may also result in a termination of the relationship if the balance leans too much on the negative side.

According to the social exchange theory, an ideal relationship has a very small amount of costs, or none at all. Human behavior implies that there will probably be a few costs involved in any given relationship between two people. All in all, if the positive traits in a partner outweigh the negative ones by an acceptable margin, then the costs can be neglected. If the costs outweigh the rewards by far, it might be an indicator that the relationship will not work. However, there is an aspect of the theory that involves an evaluation of alternatives, and this might prevent the decision to end the relationship from being automatic.

While the social exchange theory presents an excellent way of analyzing relationships, it overlooks some norms in the society. There is the tendency for two people in a relationship to evolve and alter their respective comparison levels. When individuals involve in a relationship, they come up with new measures of costs and benefits within that particular relationship. They are then expected to let those new needs be known so as to minimize discontentment, increase their happiness, and reduce the chances of a breakup. It is worth bearing in mind that, in a relationship, complacency can trigger an increase in costs and a reduction in benefits.

In recent times, divorce rates across the world are quite high. It seems many people are getting the impression that their relationship is static and that satisfying the set ground rules is becoming monotonous or boring. Such individuals tend to think that the only way to be happy is to start over with another person. When in a relationship, it is up to the couple to let one other know that they require less of the costs and more of the rewards. If what they currently deem to benefits and costs has changed, then they need to communicate it amongst themselves.

Works Cited

Cropanzano, Russell, et al. "Social exchange theory: A critical review with theoretical remedies." Academy of Management Annals 11.1 (2017): 479-516.

Lioukas, Constantinos S., and Jeffrey J. Reuer. "Isolating trust outcomes from exchange relationships: Social exchange and learning benefits of prior ties in alliances." Academy of Management Journal 58.6 (2015): 1826-1847.

Zito, Rena Cornell, and Mindy L. Vulpis. "Social capital and spousal education: Marriage market returns to social participation." Sociological Focus 49.2 (2016): 133-147.