Featured Research

from universities, journals, and other organizations

You Don't Need A Big Lottery Win For Long Term Happiness ... But A Few Thousand Helps

Date:
September 20, 2006
Source:
University of Warwick
Summary:
Researchers at the University of Warwick and Watson Wyatt have been examining just how much money one needs to win in the lottery to have a long-term impact on personal happiness. Unsurprisingly the researchers found that small wins in tens or hundreds of pound made little long-term difference, but they also found one did not need to win the jackpot to gain a significant increase in long-term mental well-being.

Researchers at the University of Warwick and Watson Wyatt have been examining just how much money one needs to win in the lottery to have a long term impact on personal happiness. Unsurprisingly the researchers found that small wins in tens or hundreds of pounds made little long term difference, but they also found one did not need to win the jackpot to gain a significant increase in long-term mental wellbeing.

In work to be published in the Journal of Health Economics, researchers Professor Andrew Oswald from the University of Warwick and Dr Jonathan Gardner from Watson Wyatt showed that medium-sized lottery wins ranging from around just 1000 to 120,000 had a long term sustained impact in the overall happiness of those winners. On average, two years after their win medium-sized lottery winners had a mental wellbeing GHQ score 1.4 points better than previously - meaning loosely that two years after their win they were just over 10% happier than the average person without a win or only a tiny lottery win.

Intriguingly the researchers also found that this increased happiness is not obvious immediately after the medium-sized win and takes some time to show through. Economist Professor Andrew Oswald from the University of Warwick said:

"This delay could be due the short term disruptive effect on one's live of actually winning, but a more plausible explanation of the delay is that initially many windfall lottery funds are saved and spent later."

The researchers studied 14 years of longitudinal data from the British Household Panel Survey (BHPS) which tracks 5,000 British households.


Story Source:

The above story is based on materials provided by University of Warwick. Note: Materials may be edited for content and length.


Cite This Page:

University of Warwick. "You Don't Need A Big Lottery Win For Long Term Happiness ... But A Few Thousand Helps." ScienceDaily. ScienceDaily, 20 September 2006. <www.sciencedaily.com/releases/2006/09/060920093117.htm>.
University of Warwick. (2006, September 20). You Don't Need A Big Lottery Win For Long Term Happiness ... But A Few Thousand Helps. ScienceDaily. Retrieved September 30, 2014 from www.sciencedaily.com/releases/2006/09/060920093117.htm
University of Warwick. "You Don't Need A Big Lottery Win For Long Term Happiness ... But A Few Thousand Helps." ScienceDaily. www.sciencedaily.com/releases/2006/09/060920093117.htm (accessed September 30, 2014).

Share This



More Mind & Brain News

Tuesday, September 30, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Do Video Games Trump Brain Training For Cognitive Boosts?

Do Video Games Trump Brain Training For Cognitive Boosts?

Newsy (Sep. 29, 2014) More and more studies are showing positive benefits to playing video games, but the jury is still out on brain training programs. Video provided by Newsy
Powered by NewsLook.com
Your Spouse's Personality May Influence Your Earnings

Your Spouse's Personality May Influence Your Earnings

Newsy (Sep. 26, 2014) Research from Washington University suggest people with conscientious spouses have greater career success. Video provided by Newsy
Powered by NewsLook.com
Can A Blood Test Predict Psychosis Risk?

Can A Blood Test Predict Psychosis Risk?

Newsy (Sep. 26, 2014) Researchers say certain markers in the blood can predict risk of psychosis later in the life. The test can aid in early treatment for the condition. Video provided by Newsy
Powered by NewsLook.com
Harpist Soothes Gorillas, Orangutans With Music

Harpist Soothes Gorillas, Orangutans With Music

AP (Sep. 25, 2014) Teri Tacheny, a harpist, has a loyal following of fans who appreciate her soothing music. Every month, gorillas, orangutans and monkeys amble down to hear her play at the Como Park Zoo in Minnesota. (Sept. 25) Video provided by AP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Health & Medicine

Mind & Brain

Living & Well

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins