Hedonimetry is the study of happiness as a measurable
economic
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with t ...
asset. The first major work in the field was an 1881 publication of ''Mathematical Psychics'' by the famous statistician and economist
Francis Ysidro Edgeworth
Francis Ysidro Edgeworth (8 February 1845 – 13 February 1926) was an Anglo-Irish philosopher and political economist who made significant contributions to the methods of statistics during the 1880s. From 1891 onward, he was appointed th ...
, who hypothesized a way of measuring happiness in units.
[Edgeworth, F. Y. (1881): ''Mathematical Psychics'', Kegan Paul, Londo]
/ref> In recent times, it has been applied to many areas, including consumer behavior and health care.
See also
* Hedonometer
References
Utility
{{economics-stub