Final answer:
The Social Exchange Theory explains that individuals look for partners who can fulfill their emotional, security, and material needs by maintaining a ratio of costs and benefits in relationships. This theory is similar to principles of economics and is also complementary to Maslow's hierarchy of needs and Sternberg's Triangular Theory of Love, with the latter focusing on intimacy, passion, and commitment in relationships.
Step-by-step explanation:
The theory that people look for someone who fills our emotional as well as our needs for security, money, and goods is known as the Social Exchange Theory. This theory suggests that relationships are formed and maintained based on an evaluation of the costs and benefits. Similar to businesses in an economy, individuals are seen as making decisions in their social and personal lives that maximize their gains and minimize their losses. The Social Exchange Theory aligns with principles of economics where every interaction is considered a transaction that might yield a return on investment, whether that investment is emotional, financial, or a form of social currency.
The core principles of the Social Exchange Theory resonate with Abraham Maslow's concept of a hierarchy of needs. According to Maslow's hierarchy of needs, basic physiological and safety requirements must be met before individuals can turn their attention to more sophisticated needs like love, esteem, and ultimately, self-actualization, which is about realizing one's full potential. In the realm of relationships, this implies that for a relationship to proceed towards true intimacy and commitment, the foundational needs of both partners must be adequately fulfilled.
Furthermore, according to Sternberg's Triangular Theory of Love, a healthy, consummate love is based on a combination of intimacy, passion, and commitment. The Social Exchange Theory complements Sternberg's view by highlighting that the balance of give and take between partners forms the economic underpinning of these deeper relationship dimensions.