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

• 成果类型: Article
• 署名作者: Lindqvist, Erik; Ostling, Robert; Cesarini, David
• 署名单位: Stockholm University; Research Institute of Industrial Economics (IFN); Stockholm School of Economics; Research Institute of Industrial Economics (IFN); New York University; National Bureau of Economic Research
• 刊物名称: REVIEW OF ECONOMIC STUDIES
• ISSN/ISSBN: 0034-6527
• DOI: 10.1093/restud/rdaa006
• 发表日期: 2020
• 页码: 2703-2726
• 关键词: life satisfaction; child-development; income; happiness; HEALTH; money; prizes; neighbors; increase; winners

摘要

We surveyed a large sample of Swedish lottery players about their psychological well-being 522 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.