Psychology, Soft Skills, or Cash? Evidence on Marginal Investments
Bibliographic Data
| ID | 4360992 |
|---|---|
| Authors | Megan Lang (0000-0003-1683-319X, Georgetown University), Edward Soule, Edward H Soule (Georgetown University), Catherine H Tinsley (0000-0002-8586-0776, Georgetown University) |
| Year | 2024 |
| Volume | 73 |
| Issue | 1 |
| Pages | 423-450 |
| Publication date | 2024-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economic Development and Cultural Change (JOURNAL) |
| Journal identifiers | ISSN: 0013-0079 • E-ISSN: 1539-2988 |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/727787 |
| OpenAlex | W4386708093 |
| Language | EN |
| Citations received | 2 |
| References cited | 37 |
In the context of antipoverty programs, what are the benefits of marginal investments in interventions targeting soft skills or psychological well-being compared with direct economic assistance? We make progress on this question by benchmarking two programs against an unconditional cash transfer. One targets participants’ self-confidence and sense of agency using personal reflection and storytelling exercises. The other teaches soft skills: goal setting, public speaking, and networking. Relative to cash, the psychologically targeted intervention significantly improves psychosocial outcomes but not economic outcomes, while the soft skills program improves economic outcomes with few effects on psychosocial outcomes. However, when comparing the two interventions with one another, effects are statistically indistinguishable along most outcomes. Our results highlight the potential for targeted marginal investments in similarly designed interventions to improve specific outcomes
Cash · Economics · Soft skills · Entrepreneurship Studies and Influences · Finance · Labor market dynamics and wage inequality · Psychological Well-being and Life Satisfaction · Psychology · Social Psychology
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| Unique citing works | 2 |
|---|---|
| Citations per year | 2 |
| Citation span | 2025 - 2026 (2) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 2 |