Cost-Benefit analysis , treatment effects , returns and costs to education
Abstract:
The literature on treatment effects focuses on gross benefts from program participation.
We extend this literature by developing conditions under which it is possible to identify
parameters measuring the cost and net surplus from program participation. Using the
generalized Roy model, we nonparametrically identify the cost, benefit, and net surplus
of selection into treatment without requiring the analyst to have direct information on
the cost. We apply our methodology to estimate the gross benefit and net surplus of
attending college.
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