Human capital theory suggests educational investments are made based on expected returns over the lifetime. Most other work in this field, particularly using British data, is based on demand models estimated in reduced form, with no earnings measures, or crudely constructed earnings measures,...

In 2006, philanthropic giving to higher education institutions totaled $28 billion, with the top school receiving just under a billion dollars. Roughly fifteen percent of those funds came from alumni donations. This paper builds upon existing economic models to create an econometric model...