The only trouble with that last sentence is that if happiness is correlated with amount of resources, then this is going to confound any argument from different people spending different amounts of money.
To answer the question, we could look at cases where someone gives money to someone else (to look at altruistic preferences), and try to guess about what sort of impact people want their resources ot have, as a function of quality of life of the recipient. So, e.g. if people want give a lot of money to people who are already happy, then this would indicate that people are intuitively aggregating in a way that weights higher subjective happiness more.
We could also look at what kind of actions people take when planning for the future (measuring selfish preferences) - if they have a 50% probability of good outcomes and a 50% probability of bad outcomes, and they can buy insurance that pays out double in one of the outcomes, do they want the payout in the bad outcome or in the good outcome?
The only trouble with that last sentence is that if happiness is correlated with amount of resources, then this is going to confound any argument from different people spending different amounts of money.
To answer the question, we could look at cases where someone gives money to someone else (to look at altruistic preferences), and try to guess about what sort of impact people want their resources ot have, as a function of quality of life of the recipient. So, e.g. if people want give a lot of money to people who are already happy, then this would indicate that people are intuitively aggregating in a way that weights higher subjective happiness more.
We could also look at what kind of actions people take when planning for the future (measuring selfish preferences) - if they have a 50% probability of good outcomes and a 50% probability of bad outcomes, and they can buy insurance that pays out double in one of the outcomes, do they want the payout in the bad outcome or in the good outcome?