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The Role of Nonpecuniary Considerations: Location Decisions of College Graduates From Low‐Income Backgrounds

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  • Yifan Gong
  • Todd Stinebrickner
  • Ralph Stinebrickner
  • Yuxi Yao

Abstract

We examine the initial postcollege geographic location decisions of students from low‐income backgrounds, focusing on the role of nonpecuniary considerations. Novel survey questions, in the spirit of the contingent valuation approach, allow us to characterize the full nonpecuniary benefits of each relevant location in dollar equivalents. Supplementing data on perceived location choice probabilities and wage expectations with our nonpecuniary measures allows us to estimate a stylized location choice model and obtain a comprehensive understanding of the importance of pecuniary and nonpecuniary factors. We also combine the nonpecuniary measures with realized location and earnings outcomes to characterize inequality in overall welfare.

Suggested Citation

  • Yifan Gong & Todd Stinebrickner & Ralph Stinebrickner & Yuxi Yao, 2025. "The Role of Nonpecuniary Considerations: Location Decisions of College Graduates From Low‐Income Backgrounds," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(2), pages 903-931, May.
    • Handle: RePEc:wly:iecrev:v:66:y:2025:i:2:p:903-931
    DOI: 10.1111/iere.12763
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