Social Exchange Theory

History of Social Exchange Theory

History of Social Exchange Theory

Social Exchange Theory did not really become what it is today if not for the help of various individuals who took the time to develop it. This has already evolved now as a school of thought in modern or contemporary social psychology, and one of the major movers, at that. Most notable of the expansion and development efforts came from sociologists Karen Cook and Richard Emerson during the 1970s and 1980s. Their combined efforts of theory and experimentation have caused increased appreciation and applicability of the theory in real life.

Essentially, the Social Exchange Theory anchors itself on the notion that social human interaction is governed in a major way by material and social resources. It is a melting hotpot of ideas rooted in psychology, anthropology and even neoclassical economics. But these theories were more abstract than useful; Cook and Emerson focused on an equally salient aspect. They aimed at detecting balancing efforts in relations of exchange and the recognizable patterns in relationships based on the theory.

Specifically, they studied Social Exchange Theory experimentally by studying the use of power in negotiated agreements in trade. There were 112 participants who underwent the computer laboratory simulating a trade agreement scenario. The factors of power, commitment, and equity in the bargaining procedures that ensued were studied by the researchers. The subjects were convened into four-person networks. These eight subjects were allowed to use formal or informal means to complete a transaction.

Because of the work of Emerson and Cook in the Social Exchange Theory development in the last preceding decades, a lot of insights have been opened up in developing the theory. It has the most remarkable impact in the field of sociology, where the study of contemporary sociological implications among humans has been transformed with the additional considerations that they have given.