Kenneth D. Boyer, Professor of Economics, Michigan State University. B.A. (economics), Amherst College, Ph.D. (economics), University of Michigan. His primary research interests are in the economics of transportation and the economics of regulation. He is a winner of the Michigan State University teacher-scholar award and has taught at the Sino-American Training Center in Shanghai, China and the University of Michigan. He has been a member of many committees of the National Academy of Sciences’ Transportation Research Board, including those on truck sizes and weights, calculating the external costs of transportation, navigation on the Upper Mississippi River, the collection of freight statistics, and most recently on the modernization of railroad regulation. Ken is the author of Principles of Transportation Economics and has published scholarly papers in some of the most important journals in the field, including The American Economic Review, The Journal of Political Economy, and The Rand Journal. Dr. Boyer is past Chair of the Transportation and Public Utilities Group of the American Economic Association and served for many years as the Secretary/Treasurer of the Industrial Organization Society, the trade group of researchers in the economics of antitrust and regulation; he also served as the program chair of the annual meeting for nine years. He is on the editorial boards of the Journal of Regulatory Economics and Transportation Research E: Logistics and Transportation Review. His most recent work has been on the determinants of investment in facilities that use rail based logistics and the effects of world oil prices on the rates charged for shipping crude oil by rail.