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Lecture 10

Lecture 10

Course Code
ECN 340
Thomas Barbiero

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Social vs. Market Relations
Market Exchange:
1. Instant exchange
2. Impersonal exchange
3. Takes place in “large groups
4. Is it selfish exchange or self-interested exchange?
Self-interested exchange (i.e. wanting to pay less for something)
Social Exchange:
1. Non-instant exchange
2. Exchange with friends, family, etc
3. Takes place in “small groups
4. Can social exchange be driven by “greed”?
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