Estimating students’ valuation for college experiences

The Role of Non-Pecuniary Considerations: Location Decisions of College Graduates from Low Income Backgrounds

“…For example, conclusions about inequality may change if, in addition to accounting for inequality in income, one also takes into account the full value of the non-pecuniary benefits that a person receives. The importance and challenges of characterizing non-pecuniary utility has received substantial attention, with the most recent evidence coming from a literature recognizing the value of expectations data (e.g., Boneva and Rauh, 2017;Aucejo, French, and Zafar, 2021;Koşar, Ransom, and van der Klaauw, 2021). 1 In this paper, we propose and implement a survey-based approach to provide new evidence about these non-pecuniary benefits, focusing specifically on characterizing their total value.…”