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Money and mental wellbeing : a longitudinal study of medium-sized lottery wins
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Gardner, Jonathan and Oswald, Andrew J. (2006) Money and mental wellbeing : a longitudinal study of medium-sized lottery wins. Journal of Health Economics, Vol.26 (No.1). pp. 49-60. doi:10.1016/j.jhealeco.2006.08.004 ISSN 0167-6296.
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Official URL: http://dx.doi.org/10.1016/j.jhealeco.2006.08.004 ...
Abstract
One of the famous questions in social science is whether money makes people happy. We offer new evidence by using longitudinal data on a random sample of Britons who receive medium-sized lottery wins of between £1000 and £120,000 (that is, up to approximately US$ 200,000). When compared to two control groups – one with no wins and the other with small wins – these individuals go on eventually to exhibit significantly better psychological health. Two years after a lottery win, the average measured improvement in mental wellbeing is 1.4 GHQ points.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HN Social history and conditions. Social problems. Social reform | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Lottery winners -- Great Britain, Happiness -- Great Britain | ||||
Journal or Publication Title: | Journal of Health Economics | ||||
Publisher: | Elsevier BV | ||||
ISSN: | 0167-6296 | ||||
Official Date: | 1 September 2006 | ||||
Dates: |
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Volume: | Vol.26 | ||||
Number: | No.1 | ||||
Page Range: | pp. 49-60 | ||||
DOI: | 10.1016/j.jhealeco.2006.08.004 | ||||
Status: | Peer Reviewed | ||||
Access rights to Published version: | Open Access (Creative Commons) |
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