How the payoff decisions of lottery winners have shifted the income distribution

When I posted the photo of people lining up for Powerball Mega Millions tickets in New York, I did it mainly out of guilt that I hadn’t posted anything yet today. But I learned a few minutes later, from Joel Slemrod of the University of Michigan, that it was highly relevant. The relevance is that [...]

Lining up for Powerball Mega Millions tickets in the basement of the UBS building

At 1:45 p.m. today. And no, I am not a professional photographer. What tipped you off?