Two studies investigated relations of value priorities to measures of subjective well-being. Samples of students and adults, from Israel and former East and West Germany (N=1261), participated in Part I. Hypothesized direct relations of nine types of values to well-being, based on ‘healthy’ values from the psychotherapy literature, relations of values to needs, self-determination theory, and the emotional resources needed to pursue various values were tested in each sample. Achievement, self-direction, stimulation, tradition, conformity and security values correlated with affective well-being, as predicted, but not with cognitive well-being. Part II tested the hypothesis that well-being depends upon congruence between personal values and the prevailing value environment. Results largely supported specific hypotheses regarding the values conducive to positive and negative well-being among students of business administration (n=40) and psychology (n=42). Hypotheses were derived from the social sanctions, environmental affordances for value attainment, and internal value conflicts likely to be experienced in each department. Copyright © 2000 John Wiley & Sons, Ltd.