How much money to make you happy?
Who says money can’t buy you happiness? Economists Jonathan Gardner and Andrew Oswald report that winners of a medium-sized prize of between £1000 and £120,000 on Britain’s National Lottery subsequently enjoyed a significant improvement in their psychological well-being compared with others who had only a small win, or no win at all. The difference, in their measurement, is positive 1.4 point. For the reference, being widowed was associated with an average drop in well-being of 5 points. Researcher conclude the 1.4 point positive change enjoyed by medium-sized winners was economically significant and not merely statistically significant.
Labels: Life, Money, personality
posted by Life Records at 10/02/2006
6 Comments:
An interesting titbit - thanks for sharing.
4:12 AM
Just wanted to say I love your blog.
And I want "workathomelikedaniel" strung up and whipped.
skn
4:30 AM
I love your blog. I am gonna add your blog on my blog lists.
By the way, money can things most of the times and most of the things. But not every time and not everything. Winning lottery makes everyone happy cause it's free money with a few investment.
10:22 AM
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10:55 AM
The operative words here are "medium sized prize". When people win telephone number sized prizes it tends to ruin their lives and close relationships. Great blog by the way.
10:22 AM
It has been reported in the past that most people think that if they had twice as much money than they presently had they would be happy. No matter how much the original amoount of money they had.
12:09 AM
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