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Money and Mental Wellbeing: A Longitudinal Study of Medium-Sized Lottery Wins

Author(s) / Creator(s)

Gardner, Jonathan
Oswald, Andrew J.

Abstract / Description

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 and £120,000 (that is, up to approximately U.S. $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.

Keyword(s)

Psychische Gesundheit Einkommen Zufriedenheit Psychische Gesundheit Einkommen Zufriedenheit psychological health happiness GHQ income

Persistent Identifier

Date of first publication

2006

Is part of series

Forschungsinstitut zur Zukunft der Arbeit/ Institute for the Study of Labor: IZA Discussion Paper Series;2233

Citation

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  • Author(s) / Creator(s)
    Gardner, Jonathan
  • Author(s) / Creator(s)
    Oswald, Andrew J.
  • PsychArchives acquisition timestamp
    2022-11-17T11:01:17Z
  • Made available on
    2008-06-06
  • Made available on
    2015-12-01T10:32:13Z
  • Made available on
    2022-11-17T11:01:17Z
  • Date of first publication
    2006
  • Abstract / Description
    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 and £120,000 (that is, up to approximately U.S. $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.
    en
  • Persistent Identifier
    https://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:bsz:291-psydok-16513
  • Persistent Identifier
    https://hdl.handle.net/20.500.11780/1112
  • Persistent Identifier
    https://doi.org/10.23668/psycharchives.8866
  • Language of content
    eng
  • Is part of
    IZA Discussion Paper Series No. 2233
  • Is part of series
    Forschungsinstitut zur Zukunft der Arbeit/ Institute for the Study of Labor: IZA Discussion Paper Series;2233
  • Keyword(s)
    Psychische Gesundheit
    de
  • Keyword(s)
    Einkommen
    de
  • Keyword(s)
    Zufriedenheit
    de
  • Keyword(s)
    Psychische Gesundheit
    de
  • Keyword(s)
    Einkommen
    de
  • Keyword(s)
    Zufriedenheit
    de
  • Keyword(s)
    psychological health
    en
  • Keyword(s)
    happiness
    en
  • Keyword(s)
    GHQ
    en
  • Keyword(s)
    income
    en
  • Dewey Decimal Classification number(s)
    150
  • Title
    Money and Mental Wellbeing: A Longitudinal Study of Medium-Sized Lottery Wins
    en
  • DRO type
    report
  • Visible tag(s)
    PsyDok