TY  - RPRT
        AU  - Costa-Font, Joan
AU  - Powdthavee, Nattavudh
        TI  - Does Money Strengthen Our Social Ties? Longitudinal Evidence of Lottery Winners
        PY  - 2021/Jun/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 14489
        UR  - https://www.iza.org/publications/dp14489
        AB  - We study the effect of lottery wins on social ties and support network in the United Kingdom. On average, we find that winning more in the lottery increases the probability of meeting friends on most days, which is consistent with the complementary effect of income on social ties. The opposite is true with regards to social ties held for more instrumental reasons such as talking to neighbors. Winning more in the lottery also lessens an individual support network consistently with a substitution for instrumental social ties. However, further robustness checks reveal that the average lottery effects are driven by the few outliers of very large wins in the sample, thus suggesting that small to medium-sized wins (<£10k) may not be enough to change people's social ties and support network in a substantial way.
        KW  - income
KW  - neighborhood
KW  - friendships
KW  - unearned income
KW  - socialization effect
KW  - lottery
KW  - social ties
        ER  -