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Forum on economic credentialing (E.C.)

M C Airan1, F Madda, R B Lal

  • 1Department of Surgery, Good Samaritan Hospital, Downers Grove, IL, USA.

Related Concept Videos

Social Exchange Theory02:06

Social Exchange Theory

We have discussed why we form relationships, what attracts us to others, and different types of love. But what determines whether we are satisfied with and stay in a relationship? One theory that provides an explanation is social exchange theory. According to social exchange theory, we act as naïve economists in keeping a tally of the ratio of costs and benefits of forming and maintaining a relationship with others (Rusbult & Van Lange, 2003).
Econometric Views (EViews)01:29

Econometric Views (EViews)

Econometric Views, often stylized as EViews, is a package that merges statistical analysis with econometric studies. It is designed to provide tools for time series analysis, forecasting, and econometric model simulation. The software originated from MicroTSP software and has evolved significantly since its inception in 1981. The history of EViews is marked by a continuous effort to enhance its computational speed and user interface. It was initially developed for large computing systems but...
Role-Based Identity01:21

Role-Based Identity

Role-based identities are central to understanding how individuals navigate social environments by adopting distinct self-conceptions aligned with various societal roles. These identities are not fixed traits but are constructed through personal actions and the social feedback individuals receive in context-specific interactions. Each social role, such as student, teacher, or friend, carries a set of expectations and norms that influence how people think, feel, and behave within that...
Sources of Self-Esteem II: Performance Feedback01:24

Sources of Self-Esteem II: Performance Feedback

Self-esteem is intricately tied to our perception of competence and our ability to exert control over our lives. One of the primary sources of this perception is performance feedback — the ongoing evaluation of our actions in terms of success and failure. According to Franks and Marolla (1976), people derive self-worth from experiencing themselves as causal agents, capable of achieving goals and overcoming obstacles. This process nurtures a critical component of self-esteem: self-efficacy,...
Social Exchange Theory01:26

Social Exchange Theory

As formulated by John Thibaut and Harold Kelley, Social Exchange Theory explains human relationships as economic-like exchanges that maximize rewards and minimize costs. This theory suggests that individuals engage in relationships to gain benefits and reduce burdens, similar to economic transactions. It has been widely applied to various types of relationships, including romantic, professional, and social interactions.Rewards and Costs in RelationshipsRelationship rewards include emotional...
Equity Theory01:26

Equity Theory

Equity theory explains how our sense of fairness influences the dynamics of close relationships. Rooted in social psychology, the theory posits that individuals evaluate fairness by comparing the ratio of their contributions to the rewards they receive. Relationship satisfaction is highest when these ratios are perceived as balanced between partners, promoting mutual reciprocity and a sense of justice.Equity vs. Equality in RelationshipsEquity is distinct from equality. Fairness does not...