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Subjective Welfare, Isolation, and Relative Consumption.

Abstract:

The recent literature has shown that subjective welfare depends on relative income. Much of the existing evidence comes from developed economies. What remains unclear is whether this is a universal human trait or an artifact of a prosperous, market-oriented lifestyle. Using data from Nepal, a mountainous country where many households still live in relative isolation, we test whether poorer and more isolated households care less about relative consumption. We find that they do not. We investig...

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Marcel Fafchamps More by this author
Forhad Shilpi More by this author
Volume:
GPRG-WPS-056
Series:
Working Paper Series
Publication date:
2006-05-05
URN:
uuid:2bc2cf2f-95f3-49fe-9412-bfc56a13532c
Local pid:
oai:economics.ouls.ox.ac.uk:14028
Language:
English

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