The Consumption Value of College

Yifan Gong, Lance Lochner, Ralph Stinebrickner, Todd R. Stinebrickner

This paper uses the Euler equation and novel data from Berea College students on their consumption expenditures during and after college, desired borrowing amounts, beliefs about post-college earnings, and elicited risk-aversion and time preference parameters to determine their consumption value of college attendance. Estimates suggest an average annual consumption value of college as high as $11,600, with considerable heterogeneity across students. Incorporating these benefits raises the average expected return to college by as much as 14%

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Year of publication:	October 2019
Authors:	Gong, Yifan
Other Persons:	Lochner, Lance (contributor) ; Stinebrickner, Ralph (contributor) ; Stinebrickner, Todd R. (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	2019: Cambridge, Mass : National Bureau of Economic Research
Subject:	Hochschule \| Higher education institution \| Studium \| University education \| Schätzung \| Estimation \| Konsumentenrente \| Consumer surplus \| Öffentliche Einrichtung \| Public institution

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Extent:	1 Online-Ressource illustrations (black and white)
Series:	NBER working paper series ; no. w26335
Type of publication:	Book / Working Paper
Language:	English
Notes:	System requirements: Adobe [Acrobat] Reader required for PDF files Mode of access: World Wide Web Hardcopy version available to institutional subscribers
Other identifiers:	10.3386/w26335 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

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