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Abstract This book is a philosophical study of the nature and value of happiness. Part I is devoted to critical discussion of the most important theories about the nature of happiness, understood as some sort of psychological state. Views discussed include sensory hedonism, local preferentism, Kahneman's theory, and Whole Life Satisfactionism. Part II of the book contains the exposition and defense of a novel theory about the nature and value of happiness. It is a form of attitudinal hedonism. The idea that a person's welfare, or well‐being, depends essentially on happiness is explained and (with reservations) defended, provided that happiness is understood according to the theory presented here. Part III of the book extends the discussion into some areas that bear on interactions between empirical research concerning happiness and philosophical inquiry into the same phenomenon. Current methods of measuring happiness are criticized and a new method is proposed. Philosophical implications of empirical research concerning happiness are evaluated.
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