Hedonimetry

Hedonimetry is the study of happiness as a measurable economic asset. The first major work in the field was an 1881 publication of "Mathematical Psychics" by the famous statistician and economist Francis Ysidro Edgeworth, who hypothesized a way of measuring happiness in units. [Edgeworth, F. Y. (1881): "Mathematical Psychics", Kegan Paul, London. [http://books.google.com/books?id=StokAAAAMAAJ] ] In recent times, it has been applied to many areas, including consumer behavior and health care.

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