A general theory of interpersonal exchange

Jon Cauley and Todd Sandler

Public Choice, 1980, vol. 35, issue 5, 587-606

Abstract: A general theory of interpersonal exchange is developed from a public goods, public choice point of view and within an analytical context that assesses both the benefits and the costs of social interaction. Social transaction benefits and costs are specified as a composite function of interpersonal bindingness, which itself depends upon five parameters. The model provides for the determination of an optimal personal degree of bindingness in a two-person relationship. Extensions encompass the more interesting reaction case, where two individuals each select their own optimal personal bindingness levels. Applications and conclusions complete the paper. qu]When love beckons to you, follow him, Though his ways are hard and steep ... For even as love crowns you so shall he crucify you. Even as he is for your growth so is he for your pruning. Kahlil Gibran The Prophet Copyright Martinus Nijhoff Publishers bv 1980

Date: 1980
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DOI: 10.1007/BF00140088

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