The nonmarket benefits of education and ability

James J. Heckman, John Eric Humphries, Gregory Veramendi

Research output: Contribution to journalArticle

2 Citations (Scopus)

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.

Original languageEnglish (US)
Pages (from-to)282-304
Number of pages23
JournalJournal of Human Capital
Volume12
Issue number2
DOIs
StatePublished - Jun 1 2018

Fingerprint

Education
Participation
Graduation
Sorting
Vote
Self-esteem
Educational choice
Schooling
Mental health
Incarceration
Returns to education
Selection bias

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Heckman, J. J., Humphries, J. E., & Veramendi, G. (2018). The nonmarket benefits of education and ability. Journal of Human Capital, 12(2), 282-304. https://doi.org/10.1086/697535

The nonmarket benefits of education and ability. / Heckman, James J.; Humphries, John Eric; Veramendi, Gregory.

In: Journal of Human Capital, Vol. 12, No. 2, 01.06.2018, p. 282-304.

Research output: Contribution to journalArticle

Heckman, JJ, Humphries, JE & Veramendi, G 2018, 'The nonmarket benefits of education and ability', Journal of Human Capital, vol. 12, no. 2, pp. 282-304. https://doi.org/10.1086/697535
Heckman JJ, Humphries JE, Veramendi G. The nonmarket benefits of education and ability. Journal of Human Capital. 2018 Jun 1;12(2):282-304. https://doi.org/10.1086/697535
Heckman, James J. ; Humphries, John Eric ; Veramendi, Gregory. / The nonmarket benefits of education and ability. In: Journal of Human Capital. 2018 ; Vol. 12, No. 2. pp. 282-304.
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