Favor (activity)
Encyclopedia
As an activity, a favor or favour is a deed in which help is voluntarily provided.

It may be defined as something done or granted out of goodwill, rather than from justice or payment. Yet, reciprocity
Reciprocity (social psychology)
Reciprocity in social psychology refers to responding to a positive action with another positive action, rewarding kind actions. People categorize an action as kind by viewing its consequences and also by the person's fundamental intentions. Even if the consequences are the same, underlying...

 (responding to a positive action with another positive action) may be a common motivation, but other motivations, e.g. altruism
Altruism
Altruism is a concern for the welfare of others. It is a traditional virtue in many cultures, and a core aspect of various religious traditions, though the concept of 'others' toward whom concern should be directed can vary among cultures and religions. Altruism is the opposite of...

 may rather be the main ones where the action isn't to return the favor but to pay it forward
Pay it forward
The expression "pay it forward" is used to describe the concept of asking that a good turn be repaid by having it done to others instead. In contract law, typically there are two parties but there is the concept of third party beneficiaries. Pay it forward merely applies this contract law concept...

.

The will to make up for a favor may largely be independent of whether the original favorer would actually get to know of the compensation, indicated by a study where participants were unexpectedly done a favor and later asked by the favorer to fill in and return a survey, and whether the favorer would receive it personally or if it would be left in adrop-off box didn't significantly alter the amount of people returning the survey.

It may be used as an alternative to monetary compensations in the form of currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...

, or other items of value. A drawback compared to objects is that the value of a favor is hard to estimate, and depends on the situation and the person providing it.

In casual sense, it is generally what is referred to as one in the expression I owe you one.
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