Robert Östling receives the Assar Lindbeck Medal
Together with David Cesarini, Robert Östling and Erik Lindqvist have in a number of notable studies examined the effects of wealth on mainly labor supply, health, and perceived happiness. The studies utilize in an ingenious way what happens when individuals win up to several million Swedish kronor on the lottery.
They have also studied the effect of wealth on health. It is well known that individuals with greater wealth have a better health. But it does not have to be interpreted as increased wealth provides better health, as wealth is correlated with other factors that directly affect health. The study shows that lottery winners who wins a very high amount do not get a better health after winning, despite this one dramatic increase in their wealth. The health of the winners' children is also not significantly affected.
An important conclusion is that the positive relationship between wealth and health essentially depends on other factors than the wealth itself.
An award ceremony for the winners will be held during the National Conference in Economics which is expected to be arranged in 2022. The laureates will then also give a speech about their research.