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Subjective Well-Being and Social Comparison: A Comparative Study on Rural Thailand and Vietnam

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  • Thi Kim Cuong Pham
  • Phu Nguyen Van
  • Thanh Tam Nguyen-Huu
  • Thi Anh-Dao Tran
  • Kone Noukignon

Abstract

This paper analyzes the determinants of the households? welfare perception using the data from surveys on rural households in Thailand and Vietnam. Welfare perception corresponds to the households? subjective assessment of their general situations. We focus on the social comparison and take into account relative poverty, harsh living conditions, economic and natural risks as well as the households? degree of risk acceptance. Our study shows that households, in both countries, are sensitive to income and relative poverty, but only Thai households appear to care about social comparison regarding their wealth. In particular, this comparison is asymmetric. Natural risks as well as households? attitude to risks affect households? well-being differently in the two countries, while we observe a similarity in the impact of economic shocks. JEL classification: I31, O12, Q56

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  • Thi Kim Cuong Pham & Phu Nguyen Van & Thanh Tam Nguyen-Huu & Thi Anh-Dao Tran & Kone Noukignon, 2019. "Subjective Well-Being and Social Comparison: A Comparative Study on Rural Thailand and Vietnam," Revue d'économie politique, Dalloz, vol. 129(6), pages 993-1029.
    • Handle: RePEc:cai:repdal:redp_296_0993
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    Cited by:

    1. Jean-Alain Héraud & Phu Nguyen-Van & Thi Kim Cuong Pham, 2020. "Public services and subjective well-being in a European city: The case of Strasbourg metropolitan area," Working Papers of BETA 2020-21, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.

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    More about this item

    Keywords

    economic risks; natural risks; rural area; social comparison; subjective well-being;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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