%0 Report
        %A Gardner, Jonathan
%A Oswald, Andrew J.
        %T Money and Mental Wellbeing: A Longitudinal Study of Medium-Sized Lottery Wins
        %D 2006
        %8 2006 Jul
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 2233
        %U https://www.iza.org/publications/dp2233
        %X 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.
        %K GHQ
%K psychological health
%K happiness
%K income