Paul Frijters, Queensland University of Technology, estimated the value in cash terms of the happiness created by major life events such as marriage, divorce and illness.

The Australian university professor spent the last eight years on the study and found events appeared to have different effects on men than women.

Wedding bells apparently provide only around 9,000 pounds worth of joy to women, reports the Telegraph.

While divorce left men feeling at a loss of 61,500 pounds, for women it was a mere loss of 5,000 pounds, the study suggested.

The birth of a child created a low cash amount, more than 18,000 pounds for a man and just under 5,000 pounds for a woman.

According to the findings, the death of a partner or a child creates the feeling of a loss of 73,000 pounds to a woman and more than 350,000 pounds to a man.

Paul Frijters said: "Losing a loved one has a much bigger effect than gaining a loved one. There's a real asymmetry between life and death. This shouldn’t surprise us. Human beings seem primed to notice losses more than gains."

The worth of major life events:

Man - 17,675.68 pounds
Woman - 8,726.25 pounds

Birth of child
Man - 18,236.39 pounds
Woman - 4,866.77 pounds

Man - loss of 61,116.46 pounds
Woman - loss of 4,977.08 pounds

Death of a loved one
Man - loss of 350,830.36 pounds
Woman - loss of 73,204.86 pounds

Man - loss of 201,264.68 pounds
Woman - loss of 28,124.61 pounds

Moving home
Man - loss of 8,947.11 pounds
Woman - loss of 1,453.80 pounds