Final answer:
The theory based on rewards and punishments is (E) operant conditioning, as developed by B.F. Skinner. It influences behavior through reinforcements and punishments that affect the likelihood of behavioral responses.
Step-by-step explanation:
The theory based on the concepts of rewards and punishments is operant conditioning. Developed by B.F. Skinner, operant conditioning is a form of learning where behavior is influenced by the consequences that follow, which can be either reinforcements or punishments.
A reinforcer strengthens the likelihood of a behavioral response, while a punishment decreases this likelihood. Skinner's work includes the use of reinforcement schedules to shape behavior and the Skinner box experiment, where a rat learns to press a lever to receive a food reward as an example of operant conditioning. This learning theory plays a crucial role in our understanding of how behaviors are modified and sustained.