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Social exchange theory suggests that these calculations occur in a variety of relationships, from romantic relationships and friendships to professional relationships, and even in ephemeral interactions, such as exchanging words with a customer at the cash register. [2]
The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way relationship between leaders and followers. [1]The latest version (2016) of leader–member exchange theory of leadership development explains the growth of vertical dyadic workplace influence and team performance in terms of selection and self-selection of informal ...
Interdependence theory is a social exchange theory that states that interpersonal relationships are defined through interpersonal interdependence, which is "the process by which interacting people influence one another's experiences" [1] (Van Lange & Balliet, 2014, p. 65).
Social exchange theory argues that the major force in interpersonal relationships is the satisfaction of both people's self-interest. [21] According to the theory, human interaction is analogous to an economic transaction, in that an individual may seek to maximize rewards and minimize costs.
The Vertical Dyad Linkage Theory is a theory that deals with the individual dyadic relationships formed between leaders and their subordinates. [1] It is also widely known as The Leadership-Member Exchange (LMX) Theory. [2] Originally, the theory has been developed by Fred Dansereau, George Graen and William J. Haga, in 1975. [3]
Affection exchange theory (AET) was introduced in 2001 by Kory Floyd, who is currently a professor of communication at the University of Arizona. The theory was first presented in two of Floyd’s research projects. The first was in a paper presented to the Western States Communication Association in Coeur d’Alene, ID in February 2001. The ...
The theory was formulated by psychologists Irwin Altman of the University of Utah [2] and Dalmas Taylor of the University of Delaware [3] in 1973 to understand relationship development between individuals. Altman and Taylor noted that relationships "involve different levels of intimacy of exchange or degree of social penetration".
Parallels are drawn between the psychological contract and social exchange theory because the relationship's worth is defined through a cost-benefit analysis. [7] The implicit nature of the psychological contract makes it difficult to define, although there is some consensus on its nature.