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Long-run Effects of Lottery Wealth on Psychological Well-being / Erik Lindqvist, Robert Östling, David Cesarini.
- Format:
- Book
- Author/Creator:
- Lindqvist, Erik.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24667.
- NBER working paper series no. w24667
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- We surveyed a large sample of Swedish lottery players about their psychological well-being and analyzed the data following pre-registered procedures. Relative to matched controls, large-prize winners experience sustained increases in overall life satisfaction that persist for over a decade and show no evidence of dissipating with time. The estimated treatment effects on happiness and mental health are significantly smaller, suggesting that wealth has greater long-run effects on evaluative measures of well-being than on affective ones. Follow-up analyses of domain-specific aspects of life satisfaction clearly implicate financial life satisfaction as an important mediator for the long-run increase in overall life satisfaction.
- Notes:
- Print version record
- May 2018.
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