The value of happiness

Some accidents involve not only the loss of income or reputation, but make one's life less happy, as well: "hedonic damage" is the legal term. How to value happiness (and, by extension, its loss)? Chicago-based economist Stan Smith has made a career of placing an economic value on happiness as an aid to juries in determining how much to compensate those who have lost it. How happy are you in dollars? This article might help figure that out.