Money 'may change the brain'
- Aamir Khan responds, says 'Proud to be Indian, stand by what I said'
- GST is in the interest of the nation, says PM Modi at all-party meet
- Rescued Russian pilot says no warning from Turkey before jet downed
- 'Suit boot ki sarkar' is failing because there are no jobs: Rahul Gandhi
- BJP strategy in Parliament: Aggression is the best form of defense
While millions of losing ticketholders envy the winners, some studies have suggested that the lives of the winners may not turn out so well.
"While money may not buy happiness, what does it buy you is a lot of attention," Discovery News quoted Frank Farley, a psychologist at Temple University and expert on risk-taking behaviour, as saying.
"You become a financial target for some people. It may change your everyday life in ways you have no experience. How many people go from an everyday income to $500 million net worth? It raises the possibility of failure, what are you going to do with it. Everyone is coming to you with advice and your life has turned upside down," he said.
Academic studies on post-lottery happiness appear mixed. A frequently-cited study from the Journal of Personal and Social Psychology conducted in 1978 reported that 22 major lottery winners did not report happier after their winnings.
But a study in the Journal of Health Economics of lottery winners in Britain found that the winners "go on eventually to exhibit significantly better psychological health." It also found that improvements in their mental well-being vastly improved.
The British study was limited to winners of 200,000 dollars or less, however, and neither study looked at reports of the mega-million dollar winners of recent times.
Anecdotal accounts of mega-failures have become mythical, such as West Virginian Jack Whittaker. Whittaker won 315 million dollars in 2002, but later was robbed at a strip club, his granddaughter died under strange circumstances and by 2007, he said his bank accounts were largely empty, according to the Wall Street Journal.
Evelyn Baseshore of New Jersey won two payouts totaling more than 5 dollars million in the mid-1980s and was besieged by thieves and hangers on.
- Post 13/11 sloganeering at Antalya and Kuala Lumpur won’t be enough
- Can Parliament be insulated from the vagaries of the political climate?
- Telescope: Aamir and Chinese whispers
- What Manmohan Singh really think about the Planning Commission?
- Going solar
- Newspaper is supposed to expose corruption and injustice wherever it finds it