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Chapter 36: Problem 3

Winning the lottery is likely to a. Produce an immediate and long-term increase in the level of well-being b. Produce an immediate but not lingering increase in the level of well-being c. Produce a decline in well-being over the long run d. Lead to an increase in greed over the long run

Short Answer

Expert verified
Option B: Produce an immediate but not lingering increase in the level of well-being, is the most likely response, based on psychological studies on the effect of sudden wealth on well-being.

Step by step solution

01

Analyze the options

Understand each of the options provided in the context of winning a lottery. a. Consider the possibility of an immediate and long-term increase in well-being. b. Consider the possibility of an immediate but not lingering increase in well-being. c. Consider the possibility of a decline in well-being over the long run. d. Consider the possibility of an increase in greed over the long run.
02

Reference to psychological studies

Associate each possibility with psychological concepts such as adaptation level theory, and past studies related to the emotional state of lottery winners over time.
03

Choose the most plausible option

Based on your analysis and reference to psychological theories, choose the most likely reaction of a typical person to winning the lottery. In majority of cases, and according to various psychological studies, it is option b - Produce an immediate but not lingering increase in the level of well-being.

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