Happiness and Choice

I've always felt that people would be happiest with just the right level of choice. With too little choice, people feel constrained and controlled. With too much, people feel overwhelmed and uncertain. With the right level of choice, people feel they are in control, while at the same time knowing that they made a good choice rather than second-guessing their decision against the myriad of possibilities.

What would a graph of happiness (y-axis) vs. choice (x-axis) look like for a typical human being? My first guess would be that there is a single maxima, sloping to low levels near the origin, and sloping down towards a horizontal asymptote as choice goes to infinity. Perhaps there are multiple minima and maxima? Perhaps the graph is a hysteresis loop? Perhaps it is something more complicated, with the happiness being dependent on the rate of change of choice as well as the level of choice? Does anyone have any interesting studies they recommend for a good read?