Does money strengthen our social ties? Longitudinal evidence of lottery winners
We study the effect of lottery wins on the strength of social ties and its different types, including support networks, in the United Kingdom. On average, we find that winning more in the lottery increases the probability of meeting friends on most days, which is consistent with the complementary ef...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Journal Article |
| Language: | English |
| Published: |
2023
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10356/166539 |
| _version_ | 1811680156556722176 |
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| author | Costa-Font, Joan Powdthavee, Nattavudh |
| author2 | School of Social Sciences |
| author_facet | School of Social Sciences Costa-Font, Joan Powdthavee, Nattavudh |
| author_sort | Costa-Font, Joan |
| collection | NTU |
| description | We study the effect of lottery wins on the strength of social ties and its different types, including support networks, in the United Kingdom. On average, we find that winning more in the lottery increases the probability of meeting friends on most days, which is consistent with the complementary effect of income on the strength of social ties. The opposite is true with regards to social ties held for more instrumental reasons such as talking to neighbours. Winning more in the lottery also lessens an individual support network consistently with a substitution of income and support network. However, further robustness checks reveal that such average lottery effects are driven by individuals exhibiting very large wins only, thus suggesting that small to medium-sized wins (below £10k) may not be enough to change people’s social ties and support network in a substantial way. |
| first_indexed | 2024-10-01T03:20:34Z |
| format | Journal Article |
| id | ntu-10356/166539 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T03:20:34Z |
| publishDate | 2023 |
| record_format | dspace |
| spelling | ntu-10356/1665392023-05-07T15:30:20Z Does money strengthen our social ties? Longitudinal evidence of lottery winners Costa-Font, Joan Powdthavee, Nattavudh School of Social Sciences Social sciences::Sociology Lottery Win Social Relationships Social Ties Money We study the effect of lottery wins on the strength of social ties and its different types, including support networks, in the United Kingdom. On average, we find that winning more in the lottery increases the probability of meeting friends on most days, which is consistent with the complementary effect of income on the strength of social ties. The opposite is true with regards to social ties held for more instrumental reasons such as talking to neighbours. Winning more in the lottery also lessens an individual support network consistently with a substitution of income and support network. However, further robustness checks reveal that such average lottery effects are driven by individuals exhibiting very large wins only, thus suggesting that small to medium-sized wins (below £10k) may not be enough to change people’s social ties and support network in a substantial way. Published version 2023-05-04T02:43:25Z 2023-05-04T02:43:25Z 2023 Journal Article Costa-Font, J. & Powdthavee, N. (2023). Does money strengthen our social ties? Longitudinal evidence of lottery winners. Rationality and Society, 35(2), 139-166. https://dx.doi.org/10.1177/10434631231159567 1043-4631 https://hdl.handle.net/10356/166539 10.1177/10434631231159567 2 35 139 166 en Rationality and Society © 2023 The Author(s). Published by SAGE. This is an open-access article distributed under the terms of the Creative Commons Attribution License. application/pdf |
| spellingShingle | Social sciences::Sociology Lottery Win Social Relationships Social Ties Money Costa-Font, Joan Powdthavee, Nattavudh Does money strengthen our social ties? Longitudinal evidence of lottery winners |
| title | Does money strengthen our social ties? Longitudinal evidence of lottery winners |
| title_full | Does money strengthen our social ties? Longitudinal evidence of lottery winners |
| title_fullStr | Does money strengthen our social ties? Longitudinal evidence of lottery winners |
| title_full_unstemmed | Does money strengthen our social ties? Longitudinal evidence of lottery winners |
| title_short | Does money strengthen our social ties? Longitudinal evidence of lottery winners |
| title_sort | does money strengthen our social ties longitudinal evidence of lottery winners |
| topic | Social sciences::Sociology Lottery Win Social Relationships Social Ties Money |
| url | https://hdl.handle.net/10356/166539 |
| work_keys_str_mv | AT costafontjoan doesmoneystrengthenoursocialtieslongitudinalevidenceoflotterywinners AT powdthaveenattavudh doesmoneystrengthenoursocialtieslongitudinalevidenceoflotterywinners |