WILLIAM F. SHUGHART II is Professor of Economics and holder of the P.M.B. Self, William King Self, and Henry C. Self Free Enterprise Chair at the University of Mississippi. He was previously a Research Associate at the Center for Study of Public Choice at George Mason University, and has held an appointment on the economics faculty at Clemson University. During the early 1980s, the author served as Special Assistant to the Director of the Federal Trade Commission's Bureau of Economics. He has published over 60 articles and book chapters in the areas of antitrust policy, industrial organization, and public choice; his most recent book is The Organization of Industry.