Abstract:
This thesis studies the determinants of subjective well-being, with the main focus on types of consumption, including material, experiential, and online social network (OSN) goods. Friendship types, particularly virtual friends, are also examined, given social changes in today’s digital age. In addition, the feeling of debt burden associated with OSN goods is explored. The study uses cross-sectional data from a survey in Bangkok (n=500) collected in February and March 2015. Subjective well-being functions are estimated by ordinary least squares (OLS). The results show that all consumption types are strongly and negatively associated with subjective well-being, with material goods purchased decreasing SWB the most. The number of virtual friends is significantly and negatively correlated with SWB. The feeling of debt burden from OSN goods purchased is negative and statistically significantly associated with SWB, but the magnitude is small though. The implication of the study is to raise awareness that purchasing goods, especially material goods, may not create greater happiness. Exhortation by the government to spend less money on these types of consumption goods may be one tool to influence behaviour.
