The economics of happiness is the formal academic study of the relationship between personal satisfaction and economic problems such as employment and wealth.
The main tools used include surveys and indexes tracking what different economies offer to their residents.
The economics of happiness includes econometric analysis to find out what factors can increase or decrease the well-being and quality of life of people.
The economics of happiness suffers from a number of shortcomings that cause many economists to question its value compared to established methods of economic research.