IAN JONES is currently an international strategic consultant on management education. He organises international executive programmes at the London Business School and holds a visiting Professorship of International Management at the University of Exeter. Previously he was UK national director and Professor of International Management at EAP, Oxford. He has also directed the MBA programme at City University and worked as a marketing manager for Unilever. He holds an MA in Economics and Statistics from St. Andrews and a PhD in International Management from London Business School. - MICHAEL POLLITT is a university lecturer in applied industrial organisation at Cambridge University. He is also Director of Studies and Fellow in Economics at Sidney Sussex College. He teaches courses in industrial and competition policy and microeconomics. His research interests include the impact of privatisation in the electricity industry and he is author of 'Ownership and Efficiency in Electric Utilities', OUP, 1995. He holds an MA in Economics from Cambridge and M.Phil and D.Phil degrees in Economics from Oxford.