If it predicts that values will all be met, then it produces happiness. If it is less than certain that values will be met, then it produces anxiety or other negative emotions. The person who seeks short-sighted pleasure will not be happy, because their higher brain will worry about the future. For example, we may feel pleasure from sex, but feel unhappy at the same time. Our interpretation of the meaning of an event such as sex affects our happiness more than the actual pleasure from sex itself.
Happiness is the only human state that measures our overall physical and mental well-being.
Happiness is even affected by our perception of the world's well-being. It results from harmony among our inner parts. We cannot deny important parts of ourselves and be fully happy. We cannot neglect the future and be fully happy. Nor can we neglect others and be fully happy.