Subjective Well-Being or SWB refers to a person's own assessment of their happiness and satisfaction with life.
The World Values Survey conducted from 1981 to 2007 measured SWB by asking two questions. The first question deals with people's affect or feeling (Taking all things together, would you say you are very happy, rather happy, not at all happy?). The second question is an intellectual assessment that measures how well their current state is living up to their expectations of what life should be (All things considered, how satisfied are you with your life as a whole these days?).