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Norway slipped one spot to third place compared to last year, but still ranks above average in most criteria.

It is one of the leaders in well-being, which the researchers measure by looking at the more subjective indicators, such as life satisfaction and equality.

Related: Why Norwegians love Tesla

The OECD's Boarini said these "intangible" criteria are important to people's overall happiness.

First published June 4, 2015: 10:09 AM ET

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