Happiness is the frequency, not the intensity, of positive versus negative affect.

@inproceedings{Diener2009HappinessIT,
  title={Happiness is the frequency, not the intensity, of positive versus negative affect.},
  author={Ed Diener and Ed Sandvik and William Pavot},
  year={2009}
}
In this chapter we suggest that “happiness,” or high subjective wellbeing, is more strongly associated with the frequency and duration of people’s positive feelings, not with the intensity of those feelings. People who rarely or never feel euphoria, for instance, can nonetheless report very high levels of well-being. We hypothesize that there are several reasons that subjective well-being is more strongly associated with the amount of time people feel positive versus negative feelings rather… 

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