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The current research synthesis integrates the findings of 111 independent samples from 54 economically developing countries that examined the relation between economic status and subjective well-being (SWB). The average economic status-SWB effect size was strongest among low-income developing economies (r = .28) and for samples that were least educated (r = .36). The relation was weakest among high-income developing economies (r = .10) and for highly educated samples (r = .13). Controlling for numerous covariates, the partial r effect size remained significant for the least-educated samples (pr = .18). Moderator analyses showed the economic status-SWB relation to be strongest when (a) economic status was defined as wealth (a stock variable), instead of as income (a flow variable), and (b) SWB was measured as life satisfaction (a cognitive assessment), instead of as happiness (an emotional assessment). Findings were replicated with a meta-analysis of the World Values Survey data. Discussion centers on the plausibility of need theory, alternative explanations of results, interpretation of moderators, and directions for future research.

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Once basic needs are satisfied, the relation between income and subjective well-being is small, and materialism leads to diminished well-being. This study attempts to determine: (1) whether experiential purchases, as opposed to materialistic purchases, are likely to increase well-being and (2) whether these increases are likely to be due to increased satisfaction of psychological needs and/or decreased social comparison. Participants indicated that experiential purchases represented money better spent, brought more happiness to themselves, and brought more happiness to others. Path models demonstrated that experiential purchases had an indirect effect on one's well-being through two independent paths: (1) increased relatedness, which then led to increased vitality, and (2) decreased social comparison. Discussion focuses on why vitality and social comparison affect well-being.