Dr. Michael R. Baye is the “Bert Elwert” Professor of Business Economics in the Kelley School of Business at Indiana University. Dr Baye received his B.S. from Texas A&M University in 1980 and earned a Ph.D. in economics from Purdue University in 1983. Michael has held appointments at Oxford, Erasmus, Cambridge, Tilburg, and the New Economic School in Moscow. He has won many awards for outstanding teaching, and regularly teaches courses in managerial economics and industrial organization at the undergraduate, graduate, M.B.A., and Ph. D. level.