Using social exchange theory, this article presents a new theory for understanding the strategic choices made by social movement leaders—the “movement exchanges” theory. It looks at how leaders engage in exchanges of valued rewards with constituencies, institutional political players, bystander publics, and voluntary organizations. Leaders receive from these players important rewards (like committed activists, political leverage, and resources) for achieving movement goals. In turn, leaders make strategic choices (expressed in frames, tactics, targets, and claims) that other players find rewarding, favoring persistent exchanges across time. By considering movements’ simultaneous exchanges with several players, the theory makes sense of choices that remain puzzling for major movement theories. It also blends strategic behavior with culture (in the form of utopias, ideology, and emotions) but does not require the maximizing assumption of the homo economicus. I use the case of the contemporary Chilean student movement to illustrate the theory.

本文运用社会交换理论，提出了一种理解社会运动领导者的战略选择的新理论——“运动交流”理论。它着眼于领导者如何与选区、机构政治参与者、旁观者公众和志愿组织交换有价值的奖励。领导者从这些参与者那里获得重要奖励（如忠诚的活动家、政治影响力和资源）以实现运动目标。反过来，领导者做出其他参与者认为有回报的战略选择（以框架、战术、目标和主张表示），支持跨时间持续交流。通过考虑运动与多个参与者的同时交流，该理论使主要运动理论仍然令人困惑的选择变得有意义。它还将战略行为与文化（以乌托邦、意识形态和情感的形式）相融合，但不需要经济人的最大化假设。我用当代智利学生运动的例子来说明这个理论。