Social science studies are often unreliable, and specifically, often verify a claim for a single population, and then unwarrantedly conclude that the claim holds for all populations. This isn’t physics :P
Mostly Caplan, other papers (here’s two studies with commentary), and a prior determined mostly by a broader version of hereditarianism (seeing most of a person’s ‘quality’ as fixed by reaching adulthood, so a combination of biological and early environmental effects). Just IQ is apparently 40%, add in Conscientiousness and it’s likely to cross 50%, and now we’re in the territory where it’s mostly ability bias.
Now, so long as the treatment effect is positive there’s an argument for going to an elite school, but since elite schools are expensive (both in cash and in signalling to get there) the treatment effect needs to be above some threshold to be worthwhile, and I haven’t run the numbers to figure out where I think that threshold is.
Mostly Caplan, other papers (here’s’s two studies with commentary), and a prior determined mostly by a broader version of hereditarianism (seeing most of a person’s ‘quality’ as fixed by reaching adulthood, so a combination of biological and early environmental effects). Just IQ is apparently 40%, add in Conscientiousness and it’s likely to cross 50%, and now we’re in the territory where it’s mostly ability bias.
Perhaps this is implicit in what you say, but signaling and social networking benefits from going to an Ivy League may play major roles independently of human capital.
Perhaps this is implicit in what you say, but signaling and social networking benefits from going to an Ivy League may play major roles independently of human capital.
I try to use the phrase “treatment effect” to encompass both capital improvements and social networking, “sheepskin effect” to encompass signalling, and “selection effect” to encompass ability bias. It seems to me that social capital (i.e. knowing other people and them knowing you) could be wrapped into human capital directly without much loss.
Where does your impression comes from?
Social science studies are often unreliable, and specifically, often verify a claim for a single population, and then unwarrantedly conclude that the claim holds for all populations. This isn’t physics :P
Mostly Caplan, other papers (here’s two studies with commentary), and a prior determined mostly by a broader version of hereditarianism (seeing most of a person’s ‘quality’ as fixed by reaching adulthood, so a combination of biological and early environmental effects). Just IQ is apparently 40%, add in Conscientiousness and it’s likely to cross 50%, and now we’re in the territory where it’s mostly ability bias.
Now, so long as the treatment effect is positive there’s an argument for going to an elite school, but since elite schools are expensive (both in cash and in signalling to get there) the treatment effect needs to be above some threshold to be worthwhile, and I haven’t run the numbers to figure out where I think that threshold is.
Perhaps this is implicit in what you say, but signaling and social networking benefits from going to an Ivy League may play major roles independently of human capital.
I try to use the phrase “treatment effect” to encompass both capital improvements and social networking, “sheepskin effect” to encompass signalling, and “selection effect” to encompass ability bias. It seems to me that social capital (i.e. knowing other people and them knowing you) could be wrapped into human capital directly without much loss.