If two defendants share a joint and several liability and the first becomes insolvent, his unpaid liabilities are reallocated to the second. While the second defendant's assets may cover its share of liability, they may not cover the first defendant's share. Thus, the one defendant's insolvency...

Data on 2,822 Vanderbilt University graduates are used to investigate alumni giving behavior during the eight years after graduation. A two stage model accounting for incidental truncation is used to first estimate the likelihood of making a contribution and second estimate the average gift size...