level of risks and uncertainty fall in between the amount of risks associated with reciprocal and binding negotiated exchanges. Since there is not a binding agreement involved, one party involved in the exchange could decide to not cooperate with the agreement. Critiques Katherine Miller outlines several major objections to or problems with the social exchange theory as developed from early seminal works The theory reduces human interaction to a purely rational process that arises from economic theory. The theory favors openness as it was developed in the 1970s when ideas of freedom and openness were preferred, but there may be times when openness isn't the best option in a relationship. The theory assumes that the ultimate goal of a relationship is intimacy when this might not always be the case. The theory places relationships in a linear structure, when some relationships might skip steps or go backwards in terms of intimacy. Russell Cropanzano and Marie S. Mitchell discuss how one of the major issues within the social exchange theory is the lack of information within studies on the various exchange rules. Reciprocity is a major exchange rule discussed but, Cropanzano and Mitchell write that the theory would be better understood if more research programs discussed a variety of exchange rules such as altruism, group gain, status consistency and competition. Meeker points out that within the exchange process, each unit takes into account at least the following elements: reciprocity, rationality, altruism (social responsibility), group gain, status, consistency, and competition (rivalry). Rosenfeld (2005) has noted significant limitations to Social Exchange Theory and its application in the selection of mates/partners. Specifically, Rosenfeld looked at the limitations of interracial couples and the application of social exchange theory. His analysis suggest that in modern society, there is less of a gap between interracial partners education level, socioeconomic status, and social class level which in turn, makes the previously understood application of social exchange moot. Applications The most extensive application of social exchange has been in the area of interpersonal relationships. However, social exchange theory materializes in many different situations with the same idea of the exchange of resources. Self-Interest can encourage individuals to make decisions that will benefit themselves overall. Homans once summarized the theory by stating: Social behavior is an exchange of goods, material goods but also non-material ones, such as the symbols of approval or prestige. Persons that give much to others try