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The root of the words subjectivity and objectivity are subject and object, philosophical terms that mean, respectively, an observer and a thing being observed.The word subjectivity comes from subject in a philosophical sense, meaning an individual who possesses unique conscious experiences, such as perspectives, feelings, beliefs, and desires, [1] [3] or who (consciously) acts upon or wields ...
The modern version of the subjective theory of value was created independently and nearly simultaneously by William Stanley Jevons, Léon Walras, and Carl Menger in the late 19th century. [3] The theory has helped explain why the value of non-essential goods can be higher than essential ones, and how relatively expensive goods can have ...
A person's level of subjective well-being is determined by many different factors and social influences prove to be a strong one. Results from the famous Framingham Heart Study indicate that friends three degrees of separation away (that is, friends of friends of friends) can affect a person's happiness. From abstract: "A friend who lives ...
The Ryff Scale is based on six factors: autonomy, environmental mastery, personal growth, positive relations with others, purpose in life, and self-acceptance. [1] Higher total scores indicate higher psychological well-being. Following are explanations of each criterion, and an example statement from the Ryff Inventory to measure each criterion.
One categorization distinguishes between subjectivist, objectivist, and hybrid theories. Subjectivist theories understand well-being as a purely subjective phenomenon characterized by the individual's own perspective, mental states, and attitudes. Objectivist theories rely only on objective factors in their definition, like health and achievement.
The first definition holds that an object is an entity that fails to experience and that is not conscious. The second definition holds that an object is an entity experienced. The second definition differs from the first one in that the second definition allows for a subject to be an object at the same time. [3]
The derivation takes into account such objective factors as the costs associated with production or replacement, market conditions and matters of supply and demand. Subjective factors may also be considered such as the risk characteristics, the cost of and return on capital, and individually perceived utility.
Life satisfaction is a key part of subjective well-being. Many factors influence subjective well-being and life satisfaction. Socio-demographic factors include gender, age, marital status, income, and education. Psychosocial factors include health, illness, functional ability, activity level, and social relationships. [9]