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The Non-Market Benefits of Education and Ability

James Heckman, John Humphries () and Gregory Veramendi ()

No 11047, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper analyzes the non-market 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 non-market 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 non-market outcomes are greater for low-ability persons. College graduation decreases welfare use, lowers depression, and raises self-esteem more for less-able individuals.

Keywords: education and inequality; returns to education; government policy; health and inequality; household behavior and family economics (search for similar items in EconPapers)
JEL-codes: I24 I26 I28 I14 D1 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cta and nep-edu
Date: 2017-09
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Related works:
Journal Article: The Nonmarket Benefits of Education and Ability (2018) Downloads
Working Paper: The Non-Market Benefits of Education and Ability (2017) Downloads
Working Paper: The Non-Market Benefits of Education and Ability (2017) Downloads
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