Attention, Assortment, Affiliation: An Agenda for Wellbeing Economics

Over the past couple of decades, wellbeing economics has evolved from a peripheral area of study into a central component of academic research and policy. Whilst subjective wellbeing (SWB) is increasingly accepted as a valid and measurable policy outcome, three key issues need to be addressed. First, the paper highlights the importance of attention, arguing that SWB metrics should better reflect what individuals notice and experience in daily life, rather than relying primarily on global evaluations. Second, it emphasizes assortment, or heterogeneity, demonstrating that the determinants of wellbeing vary significantly across individuals and contexts, making average effects an incomplete and sometimes misguided guide for policy. Third, it foregrounds affiliation, positioning social connection, particularly shared experiences, as a fundamental determinant of SWB. Taken together, these themes suggest a more nuanced and policy-relevant framework for wellbeing economics that captures experiences over time, accounts for diversity in responses, and recognizes social connection as central to improving human welfare.