A vast literature has established a strong positive association of income with health status and a negative association … with mortality. This paper studies the effects of income on health and mortality, using only the part of income variation … that is due to a truly exogenous factor: the monetary lottery prizes of individuals. The findings are that higher income …

studies the reverse. Using surveys of lottery winners, we analyze the effects of unearned income on the Big Five personality … traits. After correcting for potential endogeneity problems from prize sizes, we find that unearned income improves traits …. -- noncognitive skills ; personality traits ; lottery winners ; instrumental variables ; unearned income …

A vast literature has established a strong positive association of income with health status and a negative association … with mortality. This paper studies the effects of income on health and mortality, using only the part of income variation … that is due to a truly exogenous factor: the monetary lottery prizes of individuals. The findings are that higher income …