Dan Richards is Professor of Economics at Tufts University. Professor Richards received his A.B. in economics and history from Oberlin College and his Ph.D. in economics from Yale University. Professor Richards has written numerous articles in both macroeconomics and industrial organization, appearing in the American Economic Review, Quarterly Journal of Economics, Journal of Industrial Economics, Economica, the B. E. Journals in Economic Analysis and Policy, Canadian Journal of Economics, the Journal of Money, Credit, and Banking, and the American Journal of Agricultural Economics. He came to Tufts in 1985 and has taught at both the graduate and undergraduate levels. He served as Director of the Graduate Program in Economics from 1989 through 1998, and has also served as a consultant to the Federal Trade Commission. From 1996 to 2005 he taught in the Sloan Fellows Program at MIT’s Sloan School of Management. Professor Richards lives in Newton, Massachusetts, with his two sons, a dog, three rabbits, and his wife, a co-author of this book.

George Norman holds the William and Joyce Cummings Family Chair of Entrepreneurship and Business Economics at Tufts University. He came to Tufts in 1995 from Edinburgh University, where he had served as head of the department of economics. Prior to that, Professor Norman was the Tyler Professor of Economics at the University of Leicester (England). Professor Norman attended the University of Dundee (Scotland) where he was awarded the M.A. in economics with first class honors. He received his Ph.D. in economics from Cambridge University. His more than 70 published articles have appeared in such professional journals as the American Economic Review, Review of Economic Studies, Quarterly Journal of Economics, Journal of Industrial Economics, and International Journal of Industrial Organization. He is currently an Associate Editor for two journals, the Bulletin of Economic Research and Regional Science and Urban Economics. He is also on the editorial board of the B.E. Journals in Economic Analysis and Policy. In addition to this book, Professor Norman has written and edited, either alone or in collaboration with others, 17 other books. Professor Norman has taught courses in industrial organization and microeconomic theory at both the graduate and undergraduate levels. He has also taught introductory economics, corporate strategy, international economics, and entrepreneurship. Professor Norman lives in Newbury, Massachusetts, with his wife Margaret who, while not a co-author, has provided invaluable support and assistance in his work on this book.