Michael Alexeev is professor of Economics at Indiana University. He received his Ph.D. in Economics at Duke University in 1984. His research and teaching interests lie mostly in the fields of comparative economics and economics of transition from a Soviet-type economy to a market economy. Recently, he has also been interested in comparative analysis of institutions and in law and economics. In studying the economics of transition, Dr. Alexeev concentrates on the behavior of various economic agents (enterprise managers, consumers, government officials) paying special attention to informal aspects such as underground economic activities. He co-edited the Oxford Handbook of the Russian Economy. His other research has appeared in Journal of Economic Theory, Review of Economics and Statistics, and European Economic Review, as well as in comparative economics journals and edited volumes. His current research focuses on the economics of fiscal federalism and on the effects of natural resources on economic performance.