The rate of return to the HighScope Perry Preschool Program

• 成果类型: Article
• 署名作者: Heckman, James J.; Moon, Seong Hyeok; Pinto, Rodrigo; Savelyev, Peter A.; Yavitz, Adam
• 署名单位: University of Chicago
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2009.11.001
• 发表日期: 2010
• 页码: 114-128
• 关键词: Rate of return; Cost-benefit analysis; Standard errors; Perry Preschool Program; compromised randomization; Early childhood intervention programs; Deadweight costs

摘要

This paper estimates the rate of return to the HighScope Perry Preschool Program, an early intervention program targeted toward disadvantaged African-American youth Estimates of the rate of return to the Perry program are widely cited to support the claim of substantial economic benefits from preschool education programs Previous Studies of the rate of return to this program ignore the compromises that occurred in the randomization protocol They do nor report standard errors The rates of return estimated in this paper account for these factors We conduct ail extensive analysis of sensitivity to alternative Plausible assumptions Estimated annual social rates of return generally fall between 7 and 10%, with most estimates Substantially lower than those previously reported in the literature However, returns are generally statistically significantly different from zero for both males and females and are above the historical return on equity Estimated benefit-to-cost ratios Support this conclusion (C) 2009 Published by Elsevier B V.