Money and mental wellbeing: A longitudinal study of medium-sized lottery wins
Gardner, Jonathan and Oswald, Andrew J. . (2007) Money and mental wellbeing: A longitudinal study of medium-sized lottery wins. Journal of Health Economics , 26 (1). pp. 49-60. ISSN 0167-6296Full text not available from this repository.
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 pound and 120,000 pound (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. (c) 2006 Elsevier B.V. All rights reserved.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions
H Social Sciences > HV Social pathology. Social and public welfare
|Divisions:||Faculty of Social Sciences > Economics|
|Journal or Publication Title:||Journal of Health Economics|
|Number of Pages:||12|
|Page Range:||pp. 49-60|
|Access rights to Published version:||Restricted or Subscription Access|
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