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...

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...

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 £1000 and £120,000 (that is, up to approximately U.S. $200,000). When compared to...

We study market reactions to the announcement of a company closing their defined benefit pension plan in the UK to future accrual. For a sample of 48 plan closures, observed between 2006 and 2013, the empirical tests show a relatively muted market reaction on average. Although estimated returns...

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 £1000 and £120,000 (that is, up to approximately U.S. $200,000). When compared to...