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

Erik Lindqvist, Robert Östling and David Cesarini

The Review of Economic Studies, 2020, vol. 87, issue 6, 2703-2726

Abstract: 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.

Keywords: Happiness; well-being; mental health; lottery; I31; I39; C31 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (44)

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Related works:
Working Paper: Long-run Effects of Lottery Wealth on Psychological Well-being (2018)
Working Paper: Long-run Effects of Lottery Wealth on Psychological Well-being (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:87:y:2020:i:6:p:2703-2726.

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