Long-Run Effects of Lottery Wealth on Psychological Well-Being

• Erik Lindqvis ^[3] ; Robert Östling ^[1] ; David Cesarini ^[2]
  1. [1] Stockholm School of Economics

     Stockholm School of Economics

     Suecia

     
  2. [2] New York University

     New York University

     Estados Unidos

     
  3. [3] Swedish Institute for Social Research

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• Localización: Review of economic studies, ISSN 0034-6527, Vol. 87, Nº 6, 2020, págs. 2703-2726
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • We surveyed a large sample of Swedish lottery players about their psychological well-being 5–22 years after a major lottery event and analysed 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 over time. The estimated treatment effects on happiness and mental health are significantly smaller. Follow-up analyses of domain-specific aspects of life satisfaction implicate financial life satisfaction as an important mediator for the long-run increase in overall life satisfaction.