Making The Most Out Of Programme Evaluations and Social Experiments: Accounting For Heterogeneity in Programme Impacts
Jeffrey Smith () and
Review of Economic Studies, 1997, vol. 64, issue 4, 487-535
The conventional approach to social programme evaluation focuses on estimating mean impacts of programmes. Yet many interesting questions regarding the political economy of programmes, the distribution of programme benefits and the option values conferred on programme participants require knowledge of the distribution of impacts, or features of it. This paper presents evidence that heterogeneity in response to programmes is empirically important and that classical probability inequalities are not very informative in producing estimates or bounds on the distribution of programme impacts. We explore two methods for supplementing the information in these inequalities based on assumptions about participant decision-making processes and about the strength in dependence between outcomes in the participation and non-participation states. Dependence is produced as a consequence of rational choice by participants. We test for stochastic rationality among programme participants and present and implement methods for estimating the option values of social programmes.
References: Add references at CitEc
Citations: View citations in EconPapers (318) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:64:y:1997:i:4:p:487-535.
Access Statistics for this article
Review of Economic Studies is currently edited by Andrea Prat, Bruno Biais, Kjetil Storesletten and Enrique Sentana
More articles in Review of Economic Studies from Oxford University Press
Bibliographic data for series maintained by Oxford University Press ().