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Extending Social Resource Exchange to Events of Abundance and Sufficiency

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  • Jonas B{aa}{aa}th
  • Adel Daoud

Abstract

This article identifies how scarcity, abundance, and sufficiency influence exchange behavior. Analyzing the mechanisms governing exchange of resources constitutes the foundation of several social-science perspectives. Neoclassical economics provides one of the most well-known perspectives of how rational individuals allocate and exchange resources. Using Rational Choice Theory (RCT), neoclassical economics assumes that exchange between two individuals will occur when resources are scarce and that these individuals interact rationally to satisfy their requirements (i.e., preferences). While RCT is useful to characterize interaction in closed and stylized systems, it proves insufficient to capture social and psychological reality where culture, emotions, and habits play an integral part in resource exchange. Social Resource Theory (SRT) improves on RCT in several respects by making the social nature of resources the object of study. SRT shows how human interaction is driven by an array of psychological mechanisms, from emotions to heuristics. Thus, SRT provides a more realistic foundation for analyzing and explaining social exchange than the stylized instrumental rationality of RCT. Yet SRT has no clear place for events of abundance and sufficiency as additional motivations to exchange resources. This article synthesize and formalize a foundation for SRT using not only scarcity but also abundance and sufficiency.

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  • Jonas B{aa}{aa}th & Adel Daoud, 2020. "Extending Social Resource Exchange to Events of Abundance and Sufficiency," Papers 2010.02658, arXiv.org.
    • Handle: RePEc:arx:papers:2010.02658
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    References listed on IDEAS

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    1. Nandy, Shailen & Daoud, Adel & Gordon, David, 2016. "Examining the changing profile of undernutrition in the context of food price rises and greater inequality," Social Science & Medicine, Elsevier, vol. 149(C), pages 153-163.
    2. Daoud, Adel, 2018. "Unifying Studies of Scarcity, Abundance, and Sufficiency," Ecological Economics, Elsevier, vol. 147(C), pages 208-217.
    3. Food and Agriculture Organization, 2015. "The State of Food Insecurity in the World Meeting the 2015 International Hunger Targets: Taking Stock of Uneven Progress," Working Papers id:7595, eSocialSciences.
    4. Adel Daoud, 2010. "Robbins and Malthus on Scarcity, Abundance, and Sufficiency," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(4), pages 1206-1229, October.
    5. M. Bronfenbrenner, 1962. "The Scarcity Hypothesis in Modern Economics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 21(3), pages 265-265, July.
    6. Baumgartner, Stefan & Becker, Christian & Faber, Malte & Manstetten, Reiner, 2006. "Relative and absolute scarcity of nature. Assessing the roles of economics and ecology for biodiversity conservation," Ecological Economics, Elsevier, vol. 59(4), pages 487-498, October.
    7. Jessica Osikominu & Nancy Bocken, 2020. "A Voluntary Simplicity Lifestyle: Values, Adoption, Practices and Effects," Sustainability, MDPI, vol. 12(5), pages 1-30, March.
    8. Adel Daoud, 2011. "The Modus Vivendi of Material Simplicity: Counteracting Scarcity via the Deflation of Wants," Review of Social Economy, Taylor & Francis Journals, vol. 69(3), pages 275-305, September.
    9. Rouslan Koumakhov & Adel Daoud, 2017. "Routine and reflexivity: Simonian cognitivism vs practice approach," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(4), pages 727-743.
    10. Oleg Zinam, 1982. "The Myth of Absolute Abundance: Economic Development as a Shift in Relative Scarcities," American Journal of Economics and Sociology, Wiley Blackwell, vol. 41(1), pages 61-76, January.
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