Money and mental wellbeing : a longitudinal study of medium-sized lottery wins
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. ISSN 0167-6296
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Official URL: http://dx.doi.org/10.1016/j.jhealeco.2006.08.004 ...
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|
|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|
|Date:||1 September 2006|
|Page Range:||pp. 49-60|
|Access rights to Published version:||Open Access|
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