Does Money Make People Right-Wing and Inegalitarian? A Longitudinal Study of Lottery Winners
AbstractThe causes of people’s political attitudes are largely unknown. We study this issue by exploiting longitudinal data on lottery winners. Comparing people before and after a lottery windfall, we show that winners tend to switch towards support for a right-wing political party and to become less egalitarian. The larger the win, the more people tilt to the right. This relationship is robust to (i) different ways of defining right-wing, (ii) a variety of estimation methods, and (iii) methods that condition on the person previously having voted left. It is strongest for males. Our findings are consistent with the view that voting is driven partly by human self-interest. Money apparently makes people more right-wing.
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Bibliographic InfoPaper provided by Competitive Advantage in the Global Economy (CAGE) in its series CAGE Online Working Paper Series with number 185.
Date of creation: 2014
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Voting; gender; lottery wins; political preferences; income; attitudes.;
Other versions of this item:
- Powdthavee, Nattavudh & Oswald, Andrew J., 2014. "Does Money Make People Right-Wing and Inegalitarian? A Longitudinal Study of Lottery Winners," IZA Discussion Papers 7934, Institute for the Study of Labor (IZA).
- Powdthavee, Nattavudh & Oswald, Andrew J, 2014. "Does Money Make People Right-Wing and Inegalitarian? A Longitudinal Study of Lottery Winners," The Warwick Economics Research Paper Series (TWERPS) 1039, University of Warwick, Department of Economics.
- D1 - Microeconomics - - Household Behavior
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- H1 - Public Economics - - Structure and Scope of Government
- J7 - Labor and Demographic Economics - - Labor Discrimination
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-04-18 (All new papers)
- NEP-CDM-2014-04-18 (Collective Decision-Making)
- NEP-LTV-2014-04-18 (Unemployment, Inequality & Poverty)
- NEP-POL-2014-04-18 (Positive Political Economics)
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