Peter Blau's theory of exchange, in contrast to that of George Homans, maintains that

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Peter Blau's theory of exchange emphasizes the subjective and creative nature of social exchanges, in which individuals engage in relationships based on their own interpretations and meanings of the interactions. This is in contrast to George Homans' theory, which emphasizes the objective rewards and punishments that shape human behavior. Blau's theory also emphasizes the importance of distributive justice, but this is not the central focus of his framework.

Peter Blau's Theory of Exchange, in Contrast to That of George