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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]
Economic ethics is the combination of economics and ethics that judges from both disciplines to predict, analyze, and model economic phenomena. It encompasses the theoretical ethical prerequisites and foundations of economic systems. This particular school of thought dates back to the Greek philosopher Aristotle, whose Nicomachean Ethics ...
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.
Reciprocity (social psychology) In social psychology, reciprocity is a social norm of responding to a positive action with another positive action, rewarding kind actions. As a social construct, reciprocity means that in response to friendly actions, people are frequently much nicer and much more cooperative than predicted by the self-interest ...
Value theory. In ethics and the social sciences, value theory involves various approaches that examine how, why, and to what degree humans value things and whether the object or subject of valuing is a person, idea, object, or anything else. Within philosophy, it is also known as ethics or axiology. Traditionally, philosophical investigations ...
The social norm of reciprocity is the expectation that people will respond to each other in similar ways—responding to gifts and kindnesses from others with similar benevolence of their own, and responding to harmful, hurtful acts from others with either indifference or some form of retaliation. Such norms can be crude and mechanical, such as ...
Republicanism. 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 ...
Altruism is the principle and practice of concern for the well-being and/or happiness of other humans or animals above oneself. While objects of altruistic concern vary, it is an important moral value in many cultures and religions. It may be considered a synonym of selflessness, the opposite of selfishness. [ 1]