Happiness = p+(5xE)+(3xH)

Ever since man first learned to smile he has pondered the nature of happiness. Is it winning the Lottery? Did Thomas Jefferson have it right when he said: "It is neither wealth nor splendour, but tranquillity and occupation which give us happiness"? Or is it just a cigar called Hamlet?

No - it is none of these things. According to a new report, all those sages, novelists, philosophers and poets got it wrong: happiness is P + (5 x E) + (3 x H).

Baffled? You may well be. But occupational psychologist Carol Rothwell and life-coach Pete Cohen reckon they have found a way to measure the immeasurable.

Happiness, they say, depends on three key factors: one's Personal characteristics (outlook on life, adaptability, resilience), Existence needs (health, money and relationships), and Higher order needs (such as self-esteem, expectations, and sense of humour).

Ms Rothwell said: "This is the first equation that enables people to put a figure on their emotional state. The findings show that certain events, such as a job promotion, can impact positively on your overall happiness."

However, different things make different people happy. Contrary to what one might expect, men were more likely to give "falling in love" a high rating than women (20 per cent said it was a major source of happiness, against 14 per cent of women) - although the chaps were even more likely to give a high rating to their hobbies, a pay rise, a good sex life and a winning football team.

And Londoners turn out to be true romantics. A quarter, nearly double the national average, cite falling in love and going to a wedding as major sources of happiness. They were also much less interested in winning money (18 per cent against 30 per cent nationally) and keener on giving it away (13 per cent against eight per cent).

So how can you make yourself happy? Mr Cohen recommends:

Balance - devote time to your family, friends and yourself.

Relationship investment - make an effort with close relationships: more important than countless friends.

Time Off - to pursue interests and hobbies. Meet new people and break established patterns.

Immerse yourself in the moment and don't dwell on the past or future.

Exercise and rest.

Stretch yourself and have clear but achievable goals.

Or perhaps you should listen to the words of author Edith Wharton, who said: "If we'd stop trying to be happy we could have a pretty good time."