Kaushik Basu is Professor of Economics and the C. Marks Professor of International Studies, Department of Economics, and Director, Center for Analytic Economics, Cornell University. He has held visiting positions at CORE (Louvain-la-Neuve, Belgium), the Institute for Advanced Study (Princeton), and the London School of Economics. He has been Visiting Professor at Harvard University, Princeton University, and M.I.T. In 1992 he founded the Centre for Development Economics in Delhi and was its first Executive Director. He is also a founding member of the Madras School of Economics. Ravi Kanbur is T. H. Lee Professor of World Affairs, International Professor of Applied Economics and Management, and Professor of Economics at Cornell University. He has taught at the Universities of Oxford, Cambridge, Essex, Warwick, Princeton and Columbia and has served on the staff of the World Bank in several capacities, including as Director of the World Bank's World Development Report.