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 Đ1000 and Đ120,000 (that is, up to approximately U.S. $200,000). When compared to...

Divorce is a leap in the dark. This paper investigates whether people who split up actually become happier. Using the British Household Panel Survey, we are able to observe an individual's level of psychological wellbeing in the years before and after divorce. Our results show that divorcing...

What makes workers happy? Here we argue that pure 'rank' matters. It is currently believed that wellbeing is determined partly by an individual's absolute wage (say, 30,000 dollars a year) and partly by the individual's relative wage (say, 30,000 dollars compared to an average in the company or...

With the shift from defined benefit (DB) to defined contribution (DC) pensions gathering momentum in the aftermath of the financial crisis, there is a renewed focus on what kind of pension DC members can expect in retirement. Will current DC pension plans be sufficient to provide an adequate...