The generalized Roy model and the cost-benefit analysis of social programs


Eisenhauer, Philipp ; Heckman, James J. ; Vytlacil, Edward


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URL: https://ub-madoc.bib.uni-mannheim.de/37295
URN: urn:nbn:de:bsz:180-madoc-372950
Document Type: Working paper
Year of publication: 2014
The title of a journal, publication series: ZEW Discussion Papers
Volume: 14-082
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: I21 , C31 , C32,
Keywords (English): 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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Eisenhauer, Philipp ; Heckman, James J. ; Vytlacil, Edward (2014) The generalized Roy model and the cost-benefit analysis of social programs. Open Access ZEW Discussion Papers Mannheim 14-082 [Working paper]
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