Each month, the Graduate Management Admission Council (GMAC) surveys a random sample of individuals who three months prior registered on mba.com--the GMAC™ website for prospective graduate business students. Their survey responses provide an inside look into the decision-making process of people currently considering applying to a graduate…

The authors evaluate the extent to which economic factors underlie the expansion of Japanese college applications. Findings indicate that "marginal investors" respond to shortrun economic factors--including direct costs, household liquidity, and probability of entering a large firm--that govern higher education. Educational quality has…