Exchange network theory explains how structure affects actors’ behavior in exchange networks – social systems with two or more connected exchange relations (Emerson, 1972). A–B–C is an exchange network formed by connecting the A–B and B–C relations at B. Larger networks are formed by connecting additional exchange relations. The exchange network tradition includes several distinct theories that have numerous similarities. All predict the effects of network structure on power exercise, the distribution of power, and the distribution of benefits received through exchange. They differ in their assumptions about the processes linking structure to power, their scope (e.g., the numbers and types of network connections to which their analyses apply), their procedures for identifying the power of network positions, and their predictions of exchange outcomes.