What is equity in a social relationship?
In summary, equity theory suggests that people are more satisfied with a relationship in which there is equal give and take by both parties. This theory proposes that a person’s motivation to stay in any relationship is based on the equality (or inequality) of the contributions made to the relationship by each person.
What is exchange and Equity Theory?
Equity theory proposes that individuals in social exchange relationships compare each other the ratios of their inputs into the exchange to their outcomes from the exchange.
What does equality mean in social exchange theory?
Rewards being equal, they choose alternatives from which they anticipate the fewest costs. Immediate outcomes being equal, they choose those alternatives that promise better long- term outcomes. Long-term outcomes being perceived as equal, they choose alternatives providing better immediate outcomes.
What does equity mean in psychology?
Equity is a sense of fairness in the exchange of goods, services, time, and effort. Relationship partners will try to balance their own cost/benefit ratios to avoid getting a raw deal in the relationship as well as to avoid shortchanging their partner.
Why is equity important in a relationship?
Equity theory studies the distribution of resources between relational partners. According to this theory, relationship equity matters because people seek relationships where there is balance. If they get more than they give, they feel guilty about it.
How is equity theory different to social exchange theory?
Unlike Social Exchange Theory that argues how people try to maximise rewards and minimise costs in relationships, Equity Theory suggests that partners are concerned about fairness in relationships. Fairness is achieved when people feel they get approximately what they deserve from relationships.
What is an example of equity theory?
Equity Theory is based on the idea that individuals are motivated by fairness. As an example of equity theory, if an employee learns that a peer doing exactly the same job as them is earning more money, then they may choose to do less work, thus creating fairness in their eyes.
What is the difference between social exchange theory and equity theory?
What are the three main components of social exchange theory?
It actually suggests that we feel positively or negatively about our relationships because of a combination of three factors: Cost-benefit analysis. Comparison level. Comparison level of alternatives.
What is equity social justice?
Social equity is impartiality, fairness and justice for all people in social policy. Social equity takes into account systemic inequalities to ensure everyone in a community has access to the same opportunities and outcomes. Equity of all kinds acknowledges that inequalities exist and works to eliminate them.
What is an example of an equity?
Equity is the ownership of any asset after any liabilities associated with the asset are cleared. For example, if you own a car worth $25,000, but you owe $10,000 on that vehicle, the car represents $15,000 equity.