Overview
Social Exchange Theory (SET), largely developed by sociologist [[george-homans|George Homans]] in the 1950s, posits that human relationships are formed based on the exchange of resources, which can be material or psychological. The theory suggests that individuals assess the potential benefits and risks associated with a relationship, leading to decisions that maximize rewards and minimize costs. This approach has profound implications for understanding personal relationships, workplace dynamics, and societal interactions. SET has evolved through contributions from theorists like [[john-thibaut|John Thibaut]] and [[harold-kelley|Harold Kelley]], adding layers of complexity to the original model through concepts such as comparison levels and equity.