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).
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).