These cash flows provide a breakdown of the classification of dollars over time into four perspectives: taxpayer, participant, others, and indirect. The graph above illustrates the breakdown of the estimated cumulative benefits (not including program costs) per-participant for the first fifty years beyond the initial investment in the program.
Health care associated with illicit drug abuse or dependenceĪdjustment for deadweight cost of program Labor market earnings associated with illicit drug abuse or dependence Depending on the program, it could include reductions in crime victimization, the economic benefits from a more educated workforce, and the benefits from employer-paid health insurance.ģ“Indirect benefits” includes estimates of the net changes in the value of a statistical life and net changes in the deadweight costs of taxation.ĭetailed Monetary Benefit Estimates Per Participant These associated measures provide a more complete picture of the detailed costs and benefits of the program.Ģ“Others” includes benefits to people other than taxpayers and participants. For example, empirical research demonstrates that high school graduation leads to reduced crime. Unadjusted effect size (random effects model)ġIn addition to the outcomes measured in the meta-analysis table, WSIPP measures benefits and costs estimated from other outcomes associated with those reported in the evaluation literature. More details about these adjustments can be found in our Technical Documentation.Īdjusted effect sizes(ES) and standard errors(SE) used in the benefit - cost analysis We also report the unadjusted effect size to show the effect sizes before any adjustments have been made. For those effect sizes, we estimate outcome-based adjustments which we apply between the first time ES is estimated and the second time ES is estimated. Research shows the magnitude of some effect sizes decrease over time. WSIPP may also adjust the second ES measurement. The magnitude of these adjustments varies depending on the topic area. For example, we may adjust effect sizes when a study has a weak research design or when the program developer is involved in the research. WSIPP may adjust effect sizes based on methodological characteristics of the study. See Estimating Program Effects Using Effect Sizes for additional information.Īdjusted effect sizes are used to calculate the benefits from our benefit cost model. If the effect size is negative, the outcome decreases. If the effect size is positive, the outcome increases. Treatment N represents the total number of individuals or units in the treatment group across the included studies.Īn effect size (ES) is a standard metric that summarizes the degree to which a program or policy affects a measured outcome.
The outcomes measured are the types of program impacts that were measured in the research literature (for example, crime or educational attainment). WSIPP systematically evaluates all credible evaluations we can locate on each topic. Meta-analysis is a statistical method to combine the results from separate studies on a program, policy, or topic in order to estimate its effect on an outcome.
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