Skip to Content

Sponsors

No results

Tags

No results

Types

No results

Search Results

Events

No results
Search events using: keywords, sponsors, locations or event type
When / Where
All occurrences of this event have passed.
This listing is displayed for historical purposes.

Presented By: Department of Economics

Social, Behavioral & Experimental Economics (SBEE): What Is the Long-Run Causal Relationship between Wealth and Psychological Well-being?

David Cesarini, NYU

social social
social
Abstract:

There is a positive association between income and psychological well-being that diminishes in strength as income rises, but the causal pathways behind this association remain imperfectly understood. We surveyed a large sample of Swedish lottery players and analyzed the data following pre-registered procedures. Comparisons of large-prize winners (typical prize range: $100K - $800K) to matched controls selected from the same lottery populations allow us to make credible causal inferences about the long-run effects of wealth. For two evaluative measures of well-being – Overall Life Satisfaction and Financial Life Satisfaction – we find clear evidence of positive effects that survive multiple-hypothesis corrections and persist well over a decade after winning the lottery. The estimated treatment effects on Happiness and Mental Health are significantly smaller and not statistically different from zero.

Explore Similar Events

  •  Loading Similar Events...

Back to Main Content