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Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. [1]
The impossible trinity (also known as the impossible trilemma, the monetary trilemma or the Unholy Trinity) is a concept in international economics and international political economy which states that it is impossible to have all three of the following at the same time: a fixed foreign exchange rate. free capital movement (absence of capital ...
Interdependence theory. 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). The most basic principle of the theory is ...
In Economic exchanges, it involves the exchange of goods or services. In Social exchange, it is the exchange of approval and certain other valued behaviors. Rational Choice Theory in this instance, heavily emphasizes the individual's interest as a starting point for making social decisions.
The Mundell–Fleming model, also known as the IS-LM-BoP model (or IS-LM-BP model), is an economic model first set forth (independently) by Robert Mundell and Marcus Fleming. [1][2] The model is an extension of the IS–LM model. Whereas the traditional IS-LM model deals with economy under autarky (or a closed economy), the Mundell–Fleming ...
Alliance theory, also known as the general theory of exchanges, is a structuralist method of studying kinship relations. It finds its origins in Claude Lévi-Strauss 's Elementary Structures of Kinship (1949) and is in opposition to the functionalist theory of Radcliffe-Brown .
Peter Michael Blau (February 7, 1918 – March 12, 2002) was an American sociologist and theorist. Born in Vienna, Austria, he immigrated to the United States in 1939. He completed his PhD doctoral thesis with Robert K. Merton at Columbia University in 1952, laying an early theory for the dynamics of bureaucracy.
v. t. e. In moral and political philosophy, the social contract is an idea, theory or model that usually, although not always, concerns the legitimacy of the authority of the state over the individual. [1] Conceptualized in the Age of Enlightenment, it is a core concept of constitutionalism, while not necessarily convened and written down in a ...