MICHAEL B. PAULSEN is Professor of Education and Coordinator of Graduate Studies in Higher Education in the Department of Educational Leadership, Counseling and Foundations at the University of New Orleans. He earned his Ph.D. in higher education and economics from the University of Iowa and his M.A. degree in economics from the University of Wisconsin-Milwaukee. His scholarly work in the economics and finance of higher education has been published in both economics and education journals, including Economics of Education Review, Journal of Education Finance, The Journal of Higher Education, Research in Higher Education, The Review of Higher Education, Educational Evaluation and Policy Analysis, and other research journals, as well as in his book, College Choice. Previously, he held faculty appointments in economics at Coe College and St. Ambrose University and subsequently joined the faculties in higher education at the University of Illinois and the University of Alabama. He is consulting editor for Research in Higher Education, associate editor for economics and finance of Higher Education: Handbook of Theory and Research, and Chair of the Budget Committee for the Association for the Study of Higher Education.
JOHN C. SMART is Professor of Higher Education at The University of Memphis and formerly was a member of the faculties at the University of Kentucky, Virginia Tech, and the University of Illinois at Chicago. He has served as the editor of Research in Higher Education since 1990 and formerly was the editor of The Review of Higher Education (1980-86). Professor Smart founded Higher Education: Handbook of Theory and Research and has served as editor of the annual volumes since its inception in 1985. He is the recipient of the Distinguished Service Award from the Association for the Study of Higher Education (1993), the Distinguished Career Research Award from the American Educational Research Association (Division J, 1997), and the Sydney Suslow Award from the Association for Institutional Research (1998).