TY  - RPRT
        AU  - Kuhn, Peter J.
AU  - Kooreman, Peter
AU  - Soetevent, Adriaan R.
AU  - Kapteyn, Arie
        TI  - The Effects of Lottery Prizes on Winners and their Neighbors: Evidence from the Dutch Postcode Lottery
        PY  - 2010/May/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 4950
        UR  - https://www.iza.org/publications/dp4950
        AB  - 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.
        KW  - natural experiments
KW  - social interactions
        ER  -