What are the applications of social exchange theory?
Social exchange theory is applied in various fields like psychology, sociology, and economics to understand relationships.
Can you give me an example in psychology?
In psychology, it helps explain how individuals weigh the costs and benefits in relationships, influencing their decisions.
How about in business?
In business, it can be used to analyze negotiations and partnerships, focusing on mutual benefits and exchanges.
Are there any criticisms of this theory?
Yes, some critics argue it oversimplifies human relationships by reducing them to mere transactions.
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