Social exchange theory

Social exchange theory states that relationships evolve from exchange behaviour which serves to provide the rules of engagement. They are socially constructed and are based on the exchange of values between two or more parties. Social norms drive exchange reciprocity within relationships, and serve to guide behaviour expectations.

Definitions

According to the Marketing Communications by Fill (5th edition),

Social exchange theory. States that relationships evolve from exchange behaviour which serves to provide the rules of engagement. They are socially constructed and are based on the exchange of values between two or more parties. Social norms drive exchange reciprocity within relationships, and serve to guide behaviour expectations.