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As a unique phenomenon in China's dualistic urban-rural system, the renewal of urban villages, along with the continuous advancement of urbanization, has attracted much attention, because it involves changes in land ownership, compensation for house demolition and relocation, environmental construction, and social security, among other aspects. Resident satisfaction in urban villages is directly related to the issues of policy strengths and weaknesses, resident happiness, and social fairness, and has been widely researched in academia. However, few studies have explored the influence mechanism of satisfaction in urban village renewal from the perspective of reference dependence and have neglected to compare the differences in the levels of different proximity reference points and livelihood capitals. From the perspective of reference dependence, this study analyzes the influence of different proximity reference points on the satisfaction with urban village renewal based on the theory of differential order patterns and tests the moderating effect of livelihood capital on this mechanism. Based on 413 valid samples from two typical urban village renewal areas in Wuhan, this study explored the mechanisms of reference dependence, livelihood capital, and satisfaction with urban village renewal and reconstruction in megacity urban villages using an ordered logistic regression model, a moderating effect model, and other methods. The study found that: 1) reference dependence positively and significantly affected the satisfaction of urban village resettlement residents with renewal and reconstruction; 2) the proximity of the object of reference dependence to one's own relationship was positively correlated with the degree of influence; and 3) livelihood capital positively moderated the relationship between reference dependence and satisfaction with renewal and reconstruction. Policy implications: The design of demolition and relocation compensation policy should strengthen the public participation of villagers, formulate reasonable standards for the identification of legal property rights of housing, and take into account efficiency and fairness by adapting to the local conditions. Efforts should be made to eliminate the influence of the differences in livelihood capital, and improve the cultural quality and skills of resettled villagers through training to reduce the "cultural lag" brought about by the change of identity. Monitoring groups should be set up to oversee the implementation of urban village renewal. This study helps to further elucidate the influence mechanism of satisfaction with urban village renewal and enriches the theoretical application of reference dependence theory in the field of behavioral economics. The findings provide practical experience for reducing social conflicts and public opinion impacts and provides a reference for megacities to actively and steadily implement urban village renewal, thereby improving people's livelihoods, expanding domestic demand, and promoting high-quality urban development. |
