This paper develops theory related to advertising, materialism, and life satisfaction by formally testing explanations related to the antecedents and consequences of materialism. Survey data were collected from seven major cities each in a different country (Australia, Bosnia/Herzegovina, Germany, Egypt, Korea, Turkey, and the USA) using a probability sample (cluster sampling method involving income stratification). The results showed that the extent to which advertising is perceived to be materialistic contributes to materialism. Materialism, in turn, leads to the frequent use of various standards of comparison in making judgments about standard of living. As judgments about standard of living increase, standard of living is evaluated more negatively. In turn, negative self-evaluations contribute significantly to dissatisfaction with life.