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

Thi Kim Cuong Pham (), Phu Nguyen-Van, Thanh Tam Nguyen-Huu, Thi Anh-Dao Tran and Kone Noukignon

Revue d'économie politique, 2019, vol. 129, issue 6, 993-1029

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

Keywords: economic risks; natural risks; rural area; social comparison; subjective well-being (search for similar items in EconPapers)
JEL-codes: I31 O12 Q56 (search for similar items in EconPapers)
Date: 2019
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Related works:
Working Paper: Subjective well-being and social comparison: a comparative study on rural Thailand and Vietnam (2019)
Working Paper: Subjective well-being and social comparison: A comparative study on rural Thailand and Vietnam (2018)
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