What are the key concepts in the expectancy and equity theory of motivation?

Expectancy theory posits that motivation is influenced by the belief that effort will lead to performance (expectancy), that performance will lead to rewards (instrumentality), and that those rewards are valued (valence). Equity theory emphasizes that individuals assess their motivation based on the perceived fairness of their input-output ratiOS compared to others. Both theories highlight the importance of perceived relationships between effort, reward, and fairness in driving motivation. Together, they suggest that motivation is a rational calculation based on expectations and social comparisons.