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Pablo_Stafforini comments on Parenting and Happiness - Less Wrong Discussion
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One approach to studying happiness I've seen is giving people buzzers that go off at random intervals and prompt people to rate how happy they feel right now on a 10 point scale. Researchers usually average these datapoints to judge how happy the people are.
Now, per Kahneman, we know that this is a way to survey the experiencing self, but the remembering self doesn't rank experiences by averages. I don't know of any study that uses happiness buzzers to compare groups by peak-end ratings (nor am I sure what the 'end' should be -- maybe an average of the last day's datapoints).
You are referring to the experience sampling method, which is regarded as the gold standard in happiness research. Over the last two months, I have used this method to measure my own happiness (here's how).