In a major revision of my earlier theoretical work on religion, I attempt t
o identify and connect the basic micro elements and processes underlying re
ligious expression. I show that all primary aspects of religion - belief; e
motion, ritual, prayer, sacrifice, mysticism, and miracle - can be understo
od on the basis of exchange relations between humans and supernatural being
s. Although I utilize a cognitive definition of religion, this new version
of the theory is especially concerned with the emotional and expressive asp
ects of religion. Along the way I also clarify the difference between relig
ion and magic and this sets the stage for explaining the conditions under w
hich religion (but not magic) can require extended and exclusive exchange r
elations between humans and the gods, thus enabling some religions to susta
in stable organizations based on a lay membership.