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The Consumption Value of Schooling: An Empirical Estimate of One Aspect

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  • Edward T. Gullason

Abstract

The purpose of this paper is to demonstrate by example that human capital is more than just a capital good in the strictest sense of the term. Certain forms of human capital have consumption value in addition to the value of the increased stream of future monetary and nonmonetary benefits. A method for empirically estimating the consumption value of schooling as a vehicle to avoid the Vietnam War draft is presented.

Suggested Citation

  • Edward T. Gullason, 1989. "The Consumption Value of Schooling: An Empirical Estimate of One Aspect," Journal of Human Resources, University of Wisconsin Press, vol. 24(2), pages 287-298.
    • Handle: RePEc:uwp:jhriss:v:24:y:1989:i:2:p:287-298
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    Cited by:

    1. Sana Sellami & Dieter Verhaest & Walter Nonneman & Walter Van Trier, 2020. "Education as investment, consumption or adapting to social norm: implications for educational mismatch among graduates," Education Economics, Taylor & Francis Journals, vol. 28(1), pages 26-45, January.
    2. Annette Alstadsæter & Hans Henrik Sievertsen, 2009. "The Consumption Value of Higher Education," CESifo Working Paper Series 2871, CESifo.
    3. Maria K. Humlum & Kristin J. Kleinjans & Helena S. Nielsen, 2012. "An Economic Analysis Of Identity And Career Choice," Economic Inquiry, Western Economic Association International, vol. 50(1), pages 39-61, January.
    4. Michal Franta & Martin Guzi, 2008. "Unequal Access to Higher Education in the Czech Republic: The Role of Spatial Distribution of Universities," CERGE-EI Working Papers wp350, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    5. Jones, Frank, 1995. "Human Capital and the Use of Time," Analytical Studies Branch Research Paper Series 1995079e, Statistics Canada, Analytical Studies Branch.
    6. Jones, Frank, 1995. "Capital humain et emploi du temps," Direction des études analytiques : documents de recherche 1995079f, Statistics Canada, Direction des études analytiques.
    7. Annette Alstadsæter, 2011. "Measuring the Consumption Value of Higher Education," CESifo Economic Studies, CESifo Group, vol. 57(3), pages 458-479, September.
    8. Andrea Kutinova, 2009. "Paternity Deferments And The Timing Of Births: U.S. Natality During The Vietnam War," Economic Inquiry, Western Economic Association International, vol. 47(2), pages 351-365, April.
    9. OBARA, Takuya, 2018. "Optimal human capital policies under the endogenous choice of educational types," CCES Discussion Paper Series 66_v2, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
    10. Alstadsí¦ter, Annette & Kolm, Ann-Sofie & Larsen, Birthe, 2008. "Money or joy: The choice of educational type," European Journal of Political Economy, Elsevier, vol. 24(1), pages 107-122, March.
    11. Aucejo, Esteban M. & French, Jacob & Zafar, Basit, 2023. "Estimating students’ valuation for college experiences," Journal of Public Economics, Elsevier, vol. 224(C).
    12. Lopez-Valcarcel, Beatriz Gonzalez & Quintana, Delia Davila, 1998. "Economic and Cultural Impediments to University Education in Spain," Economics of Education Review, Elsevier, vol. 17(1), pages 93-103, February.
    13. OBARA, Takuya, 2017. "Optimal human capital policies under the endogenous choice of educational types," CCES Discussion Paper Series 66, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
    14. Iwahashi, Roki, 2007. "A theoretical assessment of regional development effects on the demand for general education," Economics of Education Review, Elsevier, vol. 26(3), pages 387-394, June.
    15. Quinn, Robert & Price, Jamie, 1998. "The demand for medical education: an augmented human capital approach," Economics of Education Review, Elsevier, vol. 17(3), pages 337-347, June.

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