Exchange theory essentially functions off of the rewards system. In its original conception, George Homans based exchange theory from an economic model whose goal is to maximize utility. This maximization of utility simply implies that one attempts to gain as much as possible from a situation while exerting as little effort as possible. Therefore, our motivation for all social interaction becomes the pursuit of rewards. Whether these rewards are intrinsic or extrinsic, material or not, exchange theory’s primary focus is on our ability to maximize utility (Goffman, 1959).
With this is mind we can perceive that it is the expectation of gratification which drives us. By performing a certain act one expects a proper reciprocation for that act. Proof of an expectation can be noted by the common accusation of ingratitude, this very accusation indicates that reciprocation is expected, and it serves as a social sanction that discourages individuals from forgetting their obligations to associates. (Blau 1964: 16) The interplay of these two elements are commonly the forces of an initial social encounter.
After the initial expectations have been fulfilled, a level of trust is gained, thus creating a social bond. The subsequent actions of the individuals either strengthen or weaken this level of trust. Trust is one of the main requirements for social bonds as is the sharing of what Blau notes as particularistic values. These particularistic values consist of the common ideologies of the individuals serving as a medium of solidarity fulfilling the integration facet of social structure.
Finally, the ending result of an interaction must represent equilibrium to both participants. Though the term may imply that both actors have been treated justly and have received equal rewards, this would be an inaccurate assumption. Equilibrium merely implies that there is a level of satisfaction present for all individuals.....
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