TITLE:
Research on the Issue of the Individual Behavior and Social Atmosphere of “Keeping-Up with the Joneses” and Rural Households’ Marriage Expenditure: An Analysis Based on Buck’s Survey Data of Chinese Farmers during 1929-1933
AUTHORS:
Hanlu Wang, Hao Hu, Yi Yu
KEYWORDS:
Marriage Expenditure, Mind of Rivalry, “Keeping-Up with the Joneses” Atmosphere, Income Gap, Credit Availability
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.7 No.7,
July
26,
2019
ABSTRACT: Marriage
expenditure behavior is not only an economic behavior, but also with its social
meaning, which can be easily affected by mind of rivalry. Based on Buck’s
survey data of Chinese farmers during 1929-1933, this paper has analyzed the
connection between the behavior of “keeping-up with the Joneses” and mind of
rivalry, as well as the relationship between individual behavior and social
atmosphere of “keeping-up with the Joneses”. Through innovatively constructing
the measurable index of the behavior of “keeping-up with the Joneses”, this
paper has also quantitatively analyzed the impact of income gap and credit
availability on the atmosphere of “keeping-up with the Joneses”, and its effect
on pushing up the marriage expenditure. The empirical results indicate
that economic factors, such as income gap and credit availability, will have
significant influence on the atmosphere of “keeping-up with the Joneses”. With
large income gap and deficient financing channels, rural households will decrease
the degree of their individual behavior of “keeping-up with the Joneses”, which
will further weaken the whole social atmosphere of “keeping-up with the
Joneses”; otherwise, with small income gap and sufficient financing channels,
the social atmosphere will be strengthened. At the same time, through forming
social pressure, individual mind of rivalry may also be strengthened, pushing
up the final marriage expenditure.