The economic value of caring

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).

Voluntary behavior with the intent to help other people is called prosocial behavior. Why do people help other people? Is personal benefit such as feeling good about oneself the only reason people help one another?

Nurses are responsible for caring for patients during birth, death, illness, and healing. Professional values guide the decisions and actions that nurses make in their careers. If nurses know the decisions and actions to take, providing patients with exceptional care is possible.
The values that are the foundation of the nursing profession are altruism, autonomy, human dignity, and social justice.
First, altruism refers to the concern for the welfare and well-being of others without personal...

Patient-centered care involves delivering care beyond inpatient hospitalization. Reflective practice can enhance a patient-centered approach. Reflective practice is a process of reasoning that considers all aspects of the present situation, including practicalities, learning from personal practice, and consideration of patient needs. Patients appreciate care decisions made while considering their input. Involving the patient in their care provides the patient with a sense of contribution rather...

Self-esteem—an individual's overall evaluation of their worth—plays a complex role in psychological functioning and well-being. It is often associated with many positive traits, such as confidence, optimism, and perseverance. Individuals with high self-esteem typically experience better sleep, manage peer pressure more effectively, and report greater life satisfaction. Conversely, low self-esteem has been consistently linked with increased risks of depression, anxiety, and poor academic or...

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...