|Benefit-Cost Summary Statistics Per Participant|
|Taxpayers||$1,035||Benefits minus costs||$4,100|
|Participants||$1,710||Benefit to cost ratio||$147.33|
|Others||$1,281||Chance the program will produce|
|Indirect||$103||benefits greater than the costs||100 %|
|Net program cost||($28)|
|Benefits minus cost||$4,100|
|Detailed Monetary Benefit Estimates Per Participant|
|Benefits from changes to:1||Benefits to:|
|Labor market earnings associated with high school graduation||$802||$1,766||$811||$0||$3,378|
|Health care associated with smoking||$218||$71||$270||$110||$670|
|Costs of higher education||($84)||($127)||($38)||($42)||($291)|
|Adjustment for deadweight cost of program||$0||$0||$0||($14)||($14)|
|Detailed Annual Cost Estimates Per Participant|
|Annual cost||Year dollars||Summary|
|Program costs||$27||2012||Present value of net program costs (in 2016 dollars)||($28)|
|Comparison costs||$0||2012||Cost range (+ or -)||20 %|
|Estimated Cumulative Net Benefits Over Time (Non-Discounted Dollars)|
|The graph above illustrates the estimated cumulative net benefits per-participant for the first fifty years beyond the initial investment in the program. We present these cash flows in non-discounted dollars to simplify the “break-even” point from a budgeting perspective. If the dollars are negative (bars below $0 line), the cumulative benefits do not outweigh the cost of the program up to that point in time. The program breaks even when the dollars reach $0. At this point, the total benefits to participants, taxpayers, and others, are equal to the cost of the program. If the dollars are above $0, the benefits of the program exceed the initial investment.|
|Meta-Analysis of Program Effects|
|Outcomes measured||No. of effect sizes||Treatment N||Adjusted effect sizes (ES) and standard errors (SE) used in the benefit-cost analysis||Unadjusted effect size (random effects model)|
|First time ES is estimated||Second time ES is estimated|
|Alcohol use before end of middle school||2||2108||-0.194||0.048||12||-0.194||0.048||15||-0.194||0.001|
|Cannabis use before end of middle school||2||2108||-0.254||0.052||12||-0.254||0.052||15||-0.254||0.001|
|Smoking before end of middle school||2||2108||-0.294||0.052||12||-0.294||0.052||15||-0.294||0.001|
|Smoking in high school||6||9045||-0.047||0.017||13||-0.047||0.017||18||-0.047||0.006|
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