Does Money Buy Happiness ? A Longitudinal Study Using Data on Windfalls

@inproceedings{Gardner1976DoesMB,
  title={Does Money Buy Happiness ? A Longitudinal Study Using Data on Windfalls},
  author={Jonathan Gardner and Alan Oswald},
  year={1976}
}
The most fundamental idea in economics is that money makes people happy. This paper constructs a test. It studies longitudinal information on the psychological health and reported happiness of approximately 9,000 randomly chosen people. In the spirit of a natural experiment, the paper shows that those in the panel who receive windfalls -by winning lottery… CONTINUE READING