ANDREW LO: The Mega Millions Winners Will Never Find Happiness

andrew loAndrew Lo

Photo: CNBC

Coming from anyone else, it might sound like jealousy.But when MIT finance professor Andrew Lo says the three winners of the Mega Millions jackpot will only come to know unhappiness, you tend to pay attention.

Lo was interviewed by PBS NewsHour in his capacity as an expert on risk psychology. 

He first discussed the neurological motivations of purchasing a lotto ticket, suggesting that what’s actually occurring is an attempt to realise our dreams.

Yet even if some of the material dreams are realised by the winners, Lo suggests that on balance, it becomes something of a nightmare:

“When you win that kind of money, everybody knows that you have won that kind of money. So, all of a sudden, distant relatives, friends, people you never heard of are coming into your lives, asking for just a little bit of that money. And that creates an enormous amount of tension and ultimately unhappiness. So I think it’s a mixed blessing.”

Indeed, Business Insider recently put together a presentation on 14 lotto winners who lost it all. If you’re looking for some solace after not winning this week, we suggest you check it out.

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