The Cost Of Cheap Talk

What is the cost of thanking, apologizing, bragging and blaming?

Pixabay

As kids, from the very start, we are introduced to four forms of communication: “Thanking”, “Apologizing”, “Bragging” and “Blaming”.

These four forms of communication are the essence of our daily interactions. We never pay much attention to them, yet we tend to use them every day, in every situation.

So just how powerful are they?

It's surprising how something that is considered as “Cheap Talk”, having no obvious value in our daily life, can have the ability to convert a handshake to a fist fight, or if used correctly the other way around.

According to Wikipedia, Cheap Talk is a communication that is:

1. cost less to transmit and receive
2. non-binding (i.e. does not limit strategic choices by either party)
3. unverifiable (i.e. cannot be verified by a third party like a court)

So, can these 4 forms of communication be really considered Cheap Talk?

This can be explained by the “Responsibility Exchange Theory” by Shereen Chaudhry and George Lowenstein in their recent research “Thanking, Apologizing, Bragging, and Blaming…