We introduce a simple allocation-of-time model to explain the high school a
thletic participation choice and the implications of this choice for educat
ional and labor market outcomes. Four different factors that could explain
athletic participation are identified in the context of this model. A varie
ty of tests of the model are provided using two data sets: the National Lon
gitudinal Survey of Youth and the National Longitudinal Study of the High S
chool Class of 1972. We find some evidence that athletic participation dire
ctly affects wages and educational attainment. However, much of the effect
of athletic participation on wages and educational attainment appears to re
flect differences across individuals in ability or value of leisure.