In my work exploring the intersection of behavioral science, leadership, and how we design our lives, I frequently encounter a fundamental tension. When we ask ourselves what it means to live a “good life,” we typically force ourselves into a binary choice.

Historically, philosophers and psychologists have offered us two items on the menu:

You can optimize for a life of happiness (hedonia)—filled with joy, comfort, and positive emotions. Or, you can optimize for a life of meaning (eudaimonia)—driven by purpose, societal contribution, and legacy.

Both are undeniably important. But what happens when neither of these frameworks perfectly captures the life you actually want to live, or the life you are currently experiencing?

Enter Dr. Shigehiro Oishi, a brilliant cultural psychology professor at the University of Chicago who shared his work here at the University of Michigan Katz-Newcomb Lecture series. Through rigorous global studies, Oishi and his colleagues have proposed that the field has been ignoring a crucial third dimension of well-being: The Psychologically Rich Life.

Or, in simpler terms: the interesting life.

To understand the architecture of a well-lived life—and to figure out which one you are currently building—we have to look at how distinct these three paths truly are.

Flavor 1: The Happy Life

The Core Driver: Comfort, joy, and security.

Imagine a person with a low-stress profession they enjoy, a stable home, and weekends predictably spent relaxing. They aren’t trying to disrupt an industry or change the world, and they aren’t facing dramatic daily hurdles. They are simply, profoundly content.

“A happy life is characterized by stability, comfort, and pleasantness.” — Dr. Shigehiro Oishi

From a behavioral standpoint, Oishi’s research shows that the happy life is heavily correlated with stability, extraversion, and having a reliable baseline of resources. It requires strong relationships and the active avoidance of pain.

Flavor 2: The Meaningful Life

The Core Driver: Purpose, sacrifice, and coherence.

Consider the life of a pediatric cancer surgeon. Their work is undeniably profound; they are altering the course of families’ histories. But are they “happy” in the day-to-day, hedonic sense? Often, no. Their days are filled with grueling hours, immense pressure, high stakes, and inevitable grief.

A highly meaningful life regularly demands trading away some daily happiness for a greater purpose. The data shows that meaning is heavily correlated with conscientiousness and connecting to something larger than yourself—whether that is a demanding career, civic duty, or family.

Flavor 3: The Psychologically Rich (Interesting) Life

The Core Driver: Novelty, complexity, and perspective shifts.

Think of the classic “Most Interesting Man in the World” from the old Dos Equis campaigns. He’s lived a life of wild adventures, strange encounters, and unpredictable situations.

This is Oishi’s third flavor, and it is fascinating. A psychologically rich life is characterized by varied, novel, and mind-bending experiences. But here is the catch: an interesting life isn’t always pleasant, and it isn’t always “meaningful” in a traditional sense.

Navigating a sudden career pivot, getting lost in a foreign city, or completely reinventing yourself are not always “happy” events. But they facilitate cognitive shifts. They add incredible texture to your life’s narrative. Oishi and his co-author Erin Westgate found that people living psychologically rich lives score highly on openness to new experiences and the ability to feel emotions—both positive and negative—very intensely.

The Data: What Do We Actually Choose?

You might be thinking, “I want all three.” While a blended life is entirely possible, the data proves that these are distinct paths with real trade-offs.

In a landmark 2020 study published in Affective Science, Oishi and his team surveyed thousands of people across nine different countries, asking them to choose their ideal life. The results revealed a clear hierarchy of preference:

The “Good Life” Framework

Global Preference

The Happy Life

50% – 70% (Majority)

The Meaningful Life

14% – 38%

The Psychologically Rich Life

7% – 17%

While happiness is the default goal for the majority, a substantial, consistent minority of people globally will actively choose an interesting life at the expense of happiness and meaning.

Even more telling is how we view our regrets. In the same study, researchers asked what would happen if people could magically undo their biggest life regret. Roughly 28% of Americans (and 35% of Koreans) said their lives would have been better if it would have been psychologically richer. Perhaps it indicates some regret for the safe choice: missing out on studying abroad, avoiding a risky career leap, or passing up an adventure.

Which Flavor Are You Optimizing For?

The most liberating part of this framework is the realization that a good life is not a monolith.

If you are feeling restless in your perfectly comfortable, “happy” life, you might be starved for psychological richness. If you are burning out from the heavy burden of your “meaningful” work, you might need to strategically inject some simple, hedonic happiness into your routine.

• The Happy Life asks: Am I enjoying this?
• The Meaningful Life asks: Does this matter?
• The Interesting Life asks: What will I learn from this?

Take a look at your own life design right now. Which flavor is dominating your current chapter, and which one are you craving?

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References & Further Reading

• Oishi, S., Choi, H., Buttrick, N., et al. (2020). Happiness, Meaning, and Psychological Richness. Affective Science, 1(3), 107–115. (This study details the 9-country survey and the specific regret statistics).
• Oishi, S., & Westgate, E. C. (2022). A psychologically rich life: Beyond happiness and meaning. Psychological Review, 129(4), 790–811. (This paper won the Wegner Theoretical Innovation Prize for fundamentally expanding how we define well-being).