R. Preston McAfee joined Yahoo! Research in 2007 and heads the microeconomics research group that focuses primarily on pricing, game theory, strategy and mechanism design. McAfee has authored over 80 articles published in scholarly economics journals, many of them on auctions and bidding. He was one of the designers of the Federal Communication Commission’s first auction of radio spectrum rights for cellular phones, an auction that has raised over $20 billion to date. McAfee also helped form a company, Market Design, Inc., that assists governments in the sale of assets such as radio frequencies, mineral rights and airports by designing market mechanisms for the transactions. The company is currently involved in the creation of a free market for electricity. McAfee teaches business strategy, managerial economics and principles of economics, and is currently on leave from the position of J. Stanley Johnson professor of business, economics and management at the California Institute of Technology.