Joseph T. Mahoney earned his BA, MA, and Ph.D. from the University of Pennsylvania, with a doctorate in Business Economics from Wharton. He joined the College of Business of the University of Illinois at Urbana-Champaign in 1988, and is Caterpillar Chair in Business, and Director of Graduate Studies. His research interest is organizational economics, which includes: the behavioral theory of the firm, resource-based, transaction costs, real-options, property rights, stakeholder and agency theory. Joe Mahoney has published numerous articles which have been cited in print over 6,000 times from scholars in 65 countries. His 2005 Sage book, Economic Foundations of Strategy, has been adopted by over 30 doctoral programs. Currently, he is an Associate Editor of Strategic Management Journal and serves on editorial boards for Journal of Business Research, Journal of Management, Journal of Management Studies, International Journal of Strategic Change Management and Strategic Organization. He served on the Business Policy and Strategy (BPS) Executive Committee and is past Chair of the BPS Division. Joe has taught undergraduate, Masters, and Ph.D. courses and is a five time outstanding teaching award winner.