Publication: Learning by Fund-raising
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2014-05-01
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Abstract
From experience, fund-raisers learn to become more efficient solicitors. This paper incorporates
fund-raising technology into the theory of charitable giving. A full characterization of the solicitation
strategy that maximizes donations net of fund-raising costs is provided. The strategy identi.es a fundraiser
incentive to invest in learning by soliciting some early donors who would give less than their
solicitation costs. A notion of “excessive” fund-raising is introduced. It is shown that this may worsen
with learning. Our model also accomodates a technology with overhead costs. An extension with rising
solicitation costs is also considered.
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Keywords
Fund-raising, Solicitation cost, Charitable giving