Mark V. Pauly holds the position of Bendheim Professor in the Department of Health Care Systems at the Wharton School of the University of Pennsylvania. Bradley Herring is a senior economist with the President's Council of Economic Advisers. He is currently on leave from Emory University, and will be joining the faculty of the Bloomberg School of Public Health at Johns Hopkins University in autumn 2007. Herring's research focuses on a number of economic and public policy issues related to private and public health insurance. He has published articles in the Journal of Health Economics and Health Affairs and is coauthor of the book Pooling Health Insurance Risks (AEI Press, 1999). He has received funding from the Department of Health and Human Services to examine the individual health insurance market and from the Robert Wood Johnson Foundation to examine Medicaid managed care.