@TechReport{iza:izadps:dp4950,
            	author={Kuhn, Peter J. and Kooreman, Peter and Soetevent, Adriaan R. and Kapteyn, Arie},
            	title={The Effects of Lottery Prizes on Winners and their Neighbors: Evidence from the Dutch Postcode Lottery},
            	year={2010},
	month={May},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={4950},
            	url={https://www.iza.org/publications/dp4950},
	abstract={Each week, the Dutch Postcode Lottery (PCL) randomly selects a postal code, and distributes cash and a new BMW to lottery participants in that code. We study the effects of these shocks on lottery winners and their neighbors. Consistent with the life-cycle hypothesis, the effects on winners’ consumption are largely confined to cars and other durables. Consistent with the theory of in-kind transfers, the vast majority of BMW winners liquidate their BMWs. We do, however, detect substantial social effects of lottery winnings: PCL nonparticipants who live next door to winners have significantly higher levels of car consumption than other nonparticipants.},
	keywords={natural experiments;social interactions},
            }