1. Exchange Theory

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

3. 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 “Humans seek rewards and avoid costs” 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! Rewards And Costs... again! Focus is on the give-and-take of economic transactions: “profit” Focus is on the give-and-take of economic transactions: “profit” Rewards may be material or symbolic Rewards may be material or symbolic Costs may be punishments or foregone rewards Costs may be punishments or foregone rewards Value of costs/rewards is subjective Value of costs/rewards is subjective Rational Decision-Making Rational Decision-Making Unlike SLT, this theory assumes we can look forward AND backward Unlike SLT, this theory assumes we can look forward AND backward Rational doesn’t mean “unemotional” Rational doesn’t mean “unemotional” As with any “rational” choice, we don’t know the actual consequences As with any “rational” choice, we don’t know the actual consequences

8. Key Concepts Rewards And Costs... again! Rewards And Costs... again! Focus is on the give-and-take of economic transactions: “profit” Focus is on the give-and-take of economic transactions: “profit” Rewards may be material or symbolic Rewards may be material or symbolic Costs may be punishments or foregone rewards Costs may be punishments or foregone rewards Value of costs/rewards is subjective Value of costs/rewards is subjective Rational Decision-Making Rational Decision-Making Unlike SLT, this theory assumes we can look forward AND backward Unlike SLT, this theory assumes we can look forward AND backward Rational doesn’t mean “unemotional” Rational doesn’t mean “unemotional” As with any “rational” choice, we don’t know the actual consequences As with any “rational” choice, we don’t know the actual consequences Interdependence Interdependence Generalized and restricted exchanges Generalized and restricted exchanges Positions affect value of resources Positions affect value of resources Positions (horizontal, vertical, central) affect exchange opportunities Positions (horizontal, vertical, central) affect exchange opportunities

9. Horizontal Vertical Central

10. Key Concepts Social Exchange And Alternatives Social Exchange And Alternatives Principle of Least Costs Principle of Least Costs Comparison Levels (CL) Comparison Levels (CL) Comparison Level For Alternatives (CLalt) Comparison Level For Alternatives (CLalt) Social Exchange And Power 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 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 Power Imbalances Bases Of Power Bases Of Power Bases of power are different for different partners in exchange Bases of power are different for different partners in exchange Bases of power are dependent on alternative partners Bases of power are dependent on alternative partners Bases of power can be undone by coalitions Bases of power can be undone by coalitions Principle of Least Interest Principle of Least Interest

11. Key Concepts Social Exchange And Alternatives Social Exchange And Alternatives Principle of Least Costs Principle of Least Costs Comparison Levels (CL) Comparison Levels (CL) Comparison Level For Alternatives (CLalt) Comparison Level For Alternatives (CLalt) Social Exchange And Power 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 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 Power Imbalances Bases Of Power Bases Of Power Bases of power are different for different partners in exchange Bases of power are different for different partners in exchange Bases of power are dependent on alternative partners Bases of power are dependent on alternative partners Bases of power can be undone by coalitions Bases of power can be undone by coalitions Principle of Least Interest Principle of Least Interest