The OHE have just published a monograph by Paul Dolan. From the OHE website;
“This report considers the degree to which happiness data can overcome some of the well-known problems with existing preference-based ways of valuing health. It presents new valuation data that show how the dimensions of health that matter most in happiness regressions are not the same as those that matter most when people are asked about their preferences. In particular, mental health matters more in happiness reports. One implication of using happiness to value health, then, might be that greater priority would be given to mental health than to physical functioning and pain.”
If you are interested in measuring happiness or broader concepts of wellbeing, visit the Centre for Wellbeing in Public Policy (CWiPP) website where there are set of resources that can be used for measuring wellbeing.