Viewpoint: Measuring and understanding subjective well‐being

Abstract Increasing attention is being paid in academic, policy, and public arenas to subjective measures of well‐being. This promising trend represents a shift towards measuring positive outcomes in psychology and greater realism in the study of economic behaviour. We describe the main measures of subjective well‐being (SWB) and provide examples of policy‐relevant research findings, including new accountings of the differences in individual‐level SWB assessments around the world and across Canada. These suggest a consistent pattern of life circumstances linked to SWB and highlight the importance of social factors whose role has otherwise been hard to quantify in income‐equivalent terms.

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