Which theory argues that the effort employees put forth depends on three aspects: their beliefs about their own performance potential, their beliefs regarding the rewards that the firm will give in response to that performance, and the appeal of those rewards relative to their personal goals?

Expectancy theory.

Explanation:

Vroom's expectancy theory assumes that behavior results from conscious choices among alternatives whose purpose it is to maximize pleasure and to minimize pain.

Vroom realized that an employee's performance is based on individual factors such as personality, skills, knowledge, experience and abilities. He stated that effort, performance and motivation are linked in a person's motivation. He uses the variables Expectancy, Instrumentality and Valence to account for this.  

Hence the theory that argues that  the effort employees put forth depends on three aspects: their beliefs about their own performance potential, their beliefs regarding the rewards that the firm will give in response to that performance, and the appeal of those rewards relative to their personal goals is The Expectancy Theory

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