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Kawoomba comments on Checklist of Rationality Habits - Less Wrong
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Only twice as?
Adaptation level theory suggests that both contrast and habituation will operate to prevent the winning of a fortune from elevating happiness as much as might be expected. ... As predicted, lottery winners were not happier than controls
It's a well replicated phenomenon.
Lottery-winners are self-selected for a number of things including innumeracy or foolishness and not having grand projects materially advanced by winnings, and the famous lottery winner examples are for relatively small sums as far as I know - most of the winners in that paper were $400k or less at a time of higher tax rates, with a serious selection issue there as well (less than half of the winners interviewed).