Details:
Good adult learning benefits society and it benefits those who receive it. But just how good is it? Economists think about individual benefits in terms of utility. Since this is a rather abstract concept, we like to convert changes in utility to changes in money. This also has the great benefit of allowing us to compare the costs of adult learning with its benefits in the same currency, quite literally.
We can think about utility either as experienced utility – adult learning makes people think and feel better about life – or in terms of preference – or as decision utility – adult learning is something people desire. We explore the use of both methods in this project, and compare the results generated by each.