J Health Econ. 2007 Jan;26(1):49-60. Epub 2006 Sep 1.

Money and mental wellbeing: a longitudinal study of medium-sized lottery wins.

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Watson Wyatt Worldwide, Watson House, London Road, Reigate, Surrey RH2 9PQ, UK.

Abstract

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 pounds and 120,000 pounds (that is, up to approximately US$ 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.

PMID:: 16949692; [PubMed - indexed for MEDLINE]

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Money and mental wellbeing: a longitudinal study of medium-sized lottery wins.
Money and mental wellbeing: a longitudinal study of medium-sized lottery wins.
J Health Econ. 2007 Jan ;26(1):49-60. Epub 2006 Sep 1 .

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