The Nonmarket Benefits of Education and Ability

James Heckman, John Humphries and Gregory Veramendi

Journal of Human Capital, 2018, vol. 12, issue 2, 282 - 304

Abstract: This paper analyzes the nonmarket benefits of education and ability. Using a dynamic model of educational choice, we estimate returns to education that account for selection bias and sorting on gains. We investigate a range of nonmarket outcomes, including incarceration, mental health, voter participation, trust, and participation in welfare. We find distinct patterns of returns that depend on the levels of schooling and ability. Unlike the monetary benefits of education, the benefits to education for many nonmarket outcomes are greater for low-ability persons. College graduation decreases welfare use, lowers depression, and raises self-esteem more for less-able individuals.

Date: 2018
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Citations: View citations in EconPapers (24)

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Related works:
Working Paper: The Non-Market Benefits of Education and Ability (2017)
Working Paper: The Non-Market Benefits of Education and Ability (2017)
Working Paper: The Non-Market Benefits of Education and Ability (2017)
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