Each week, the Dutch Postcode Lottery (PCL) randomly selects a postal code, and distributes cash and a new BMW to lottery participants in that code. We study the effects of these shocks on lottery winners and their neighbors. Consistent with the life-cycle hypothesis, the effects on winners'...

The Routh-Hurwitz stability condition is disentangled for choice variables that are strategic substitutes or strategic complements. This yields distinct stability conditions that are not necessarily symmetric. Two examples illustrate this result.