What is another word for exchange theory?
Pronunciation: [ɛkst͡ʃˈe͡ɪnd͡ʒ θˈi͡əɹi] (IPA) 
Exchange theory, also known as social exchange theory, is a sociological perspective that examines social interactions between individuals in terms of rewards and costs. However, there are various synonyms for the term exchange theory that describe similar concepts. One such synonym is transactional analysis, which focuses on the patterns of personal communication and the different positions people can adopt during communication. Another synonym is rational choice theory, which emphasizes decision-making processes based on expected outcomes and personal preferences. Additionally, the term reciprocity theory describes the idea that people feel obligated to repay the actions of others. Lastly, exchange network theory explains how social structures and social relations shape social behavior.
