ABSTRACT
People's positive sentiments toward and evaluations of others, such as affection, approval, and respect, are rewards worth a price that enter into exchange transactions, but they must not be explicitly bartered in exchange lest their value as genuine feelings or judgments be compromised. Social exchange differs in important ways from strictly economic exchange. The basic and most crucial distinction is that social exchange entails unspecified obligations. Only social exchange tends to engender feelings of personal obligation, gratitude, and trust; purely economic exchange as such does not. Since trust is essential for stable social relations, and since exchange obligations promote trust, special mechanisms exist to perpetuate obligations and thus strengthen bonds of indebtedness and trust. The expanding exchange of benefits of various sorts between individuals makes them increasingly interdependent, establishes mutual trust, and fortifies their social bond. Furnishing benefits to others may lead to the development of bonds of fellowship with them or to a position of superiority over them.
