Zvi Bodie is professor of finance at Boston University School of Management. He holds a PhD from the Massachusetts Institute of Technology and has served as visiting professor at Harvard University and MIT. He currently serves as a member of the Pension Research Council at the University of Pennsylvania. He has published widely on pension finance, the management of financial guarantees in both the private and public sector, and investment strategy in an inflationary environment. His edited volumes include The Foundations of Pension Finance; Pensions and the Economy: Sources, Uses and Limitations of Data; Pensions in the U.S. Economy; Issues in Pension Economics; and Financial Aspects of the U.S. Pension System. His research on pensions has focused on the funding and investment policies of private pension plans and on public policies such as the provision of government pension insurance. He has consulted on pension policy for the U.S. Department of Labor, the State of Israel, Bankers Trust Co., and J.P. Morgan.

Alex Kane
University of California, San Diego

Alex Kane is professor of finance and economics at the Graduate School of International Relations and Pacific Studies at the University of California, San Diego. He has been visiting professor at the Faculty of Economics, University of Tokyo; Graduate School of Business, Harvard; Kennedy School of Government, Harvard; and research associate, National Bureau of Economic Research. An author of many articles in finance and management journals, Professor Kane's research is mainly in corporate finance, portfolio management, and capital markets, most recently in the measurement of market volatility and pricing of options.

Alan J. Marcus
Boston College

Alan Marcus is professor of finance in the Wallace E. Carroll School of Management at Boston College. He received his PhD in economics from MIT. Professor Marcus has been a visiting professor at the Athens Laboratory of Business Administration and at MIT's Sloan School of Management and has served as a research associate at the National Bureau of Economic Research. Professor Marcus has published widely in the fields of capital markets and portfolio management, with an emphasis on applications of futures and options pricing models. His consulting work has ranged from new product development to provision of expert testimony in utility rate proceedings. He also spent two years at the Federal Home Loan Mortgage Corporation (Freddie Mac), where he developed models of mortgage pricing and credit risk. He currently serves on the Research Foundation Advisory Board of the Association for Investment Management and the Research (AIMR) and the Advisory Council for the Currency Risk Management Alliance of State Street Bank and Windham Capital Management, Boston.