Fifty-two years of consumer research based on social exchange theory: A review and research agenda using topic modeling

Social exchange theory (SET) is a leading sociopsychological theory that has enriched understanding of consumers' behavior. In this study, we examine application of SET in consumer research over last 52 years (1971-2022) in terms of predominant topics, publications, outlets, networks, and clusters. We adopt a holistic approach by amalgamating systematic literature review (SLR) using Scientific Procedures and Rationales for SLRs protocol; scientometric analysis utilizing bibliographic coupling and betweenness centrality; and topic modeling employing latent Dirichlet allocation. Based on text analysis of 215 full research papers, the study extracts five predominant areas of extant consumer research leveraging SET: (1) relationship marketing, (2) collaborative consumption, (3) gifting behavior, (4) brand experience, and (5) tourism and hospitality. Scientometric mapping reveals six cohesive clusters and identifies seminal studies in SET-based consumer research. Building upon the insights, the article concludes by presenting agenda for future research.