Value priorities as predictors of hedonic and eudaimonic aspects of well-being

The purpose of the present study was to examine the relation between basic value priorities (according to the value theory proposed by Schwartz (1992)) and hedonic (affect balance and life satisfaction) and eudaimonic (psychological and social well-being) aspects of well-being in a sample of Iranian university students (n = 200). According to the bivariate correlation analysis, achievement and tradition values were significantly correlated with both eudaimonic and hedonic aspects of well-being. Power, self-direction, universalism, benevolence and conformity values also were related to eudaimonic aspects of well-being. A canonical correlation analysis was also conducted using the 10 basic values as predictors of the four well-being variables yielding four functions, two of which were considered noteworthy. Collectively, the full model across all functions was statistically significant with the r2 type effect size of .57, indicating that the full model explained about 57% of the variance shared between the variable sets. Implications of the results are discussed with reference to the prior assumptions about the relation between values and well-being.