Final answer:
In the Social Exchange Theory, the balance between the benefits and costs of a relationship determines our satisfaction with and commitment to that relationship. Our analyses operate similarly to economic evaluations, where we seek to maximize benefits such as companionship and minimize costs like boredom or expense.
Step-by-step explanation:
According to the Social Exchange Theory, our feelings about relationships are largely determined by assessments of costs and benefits. We act as 'naïve economists,' internally analyzing whether the benefits of a relationship outweigh the potential costs. Benefits might include companionship, intimacy, passion, and comfort, while costs could encompass boredom, expenses, and emotional strain. Key factors influencing relationship satisfaction are the comparisons of these elements. This approach also extends to more practical aspects, such as resource exchange and management, with a particular emphasis on material benefits, though it can be criticized for devaluing non-material factors such as affection and camaraderie. Relationships often form based on proximity and shared similarities, with the expectation of reciprocity and mutual attraction.
Determinants of Relationship Quality
The Social Exchange Theory posits that relationship satisfaction is influenced by the ratio of perceived benefits to costs. A healthy balance where benefits exceed costs leads to more satisfaction and commitment to maintain the relationship. In contrast, when costs outweigh benefits, individuals are likely to reassess or terminate the relationship. Additionally, factors such as intimacy, passion, and commitment are essential components of a relationship, as suggested by Sternberg's Triangular Theory of Love.