This theory believes that the other two theories do not take into account the concerns individuals face in regards to the cost and benefits of participating in collective action. Individuals are more likely to participate in collective action if they believe that they will get something out of it (benefit). The benefit could be money or social in regards to the creation of change. 

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1. Relative deprivation theory (RDT)
    - perceptions and emotions of group-based injustice
2. Social identity theory (SIT)
    - (politicized) social identification
3. Instrumental cost-benefit analysis
    -  instrumental cost-benefit expectations of available resources 

Collective action theories 

Van Zomeren, M. and Iyer, A. (2009), Introduction to the Social and Psychological Dynamics of Collective Action. Journal of Social Issues, 65: 645-660. https://doi.org/10.1111/j.1540-4560.2009.01618.x

Introduction to the Social and Psychological Dynamics of Collective Action

RDT states that individuals need to not only see themselves as being deprived but their entire group identification (social, political, sex, gender, etc). This belief that they are not the only ones suffering helps motivate them to participate in social change.
Emotional arousal plays a big role in motivation as well as the stronger the arousal towards the injustice the more it motivates individuals to act.

Relative deprivation theory (RDT): Collective action theory

SIT believes that individuals in the low-status group are more likely to participate in collective action if they believe that they are unable to reach the high-status group. The position of low-status should be perceived as undeserved. The idea that the inequality or injustice is unstable and thus able to be changed through social movements. These three factors together help create a strong motivation for change. 

Social identity theory (SIT): Collective action theory

Instrumental cost-benefit analysis: Collective action theory

Many studies use different methods as collective action can form in many ways. This can create confusion when comparing studies' results.
Another issue is that a majority of studies and theories focus on the low-status group's point of view. This means that the theories do not account for all of the reasons one participates in collective actions

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