Question: When purchasing a new wardrobe, Ronald expects a fair exchange between himself and the retailer, where the price he pays for a product or service

When purchasing a new wardrobe, Ronald expects a fair exchange between himself and the retailer, where the price he pays for a product or service matches the value he receives. This theory helps him understand his satisfaction or dissatisfaction based on perceived fairness in the exchange. Which of the following is a theory about the fairness of exchanges between individuals, which helps in understanding consumer satisfaction and dissatisfaction?

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