From the president.

Holt, Charles A.

The Southern Economic Association is pleased to announce the appointment of Professor Laura Razzolini from the University of Mississippi as the next Editor of the Southern Economic Journal. Professor Razzolini will replace Jonathan Hamilton, effective August 1,2003, upon completion of her tour as Economics Program Officer for the National Science Foundation. Professor Razzolini's research fields include economic theory, mechanism design, and more recently, experimental economics.

The officers of the Southern Economic Association wish to take this opportunity to thank Jonathan Hamilton for raising the Journal's quality and lowering article turnaround time. Professor Hamilton's tireless devotion to the Journal is apparent. We also wish to thank his administrative assistant, Lisa Jelks, for excellent management of the important details of running the Journal.

The net worth of the Southern Economic Association had dropped to an alarmingly low level of about $ 14.000 shortly before the start of Hamilton's term, and this net worth has risen at a rate of more than $60,000 per year for the last four years. This increase is, to a large extent, due to the excellent financial management of the Journal and the Association, and to the partial support provided by the University of Florida.

The officers of the association are impressed with Laura Razzolini's plans for the Journal, and we believe that the Journal will continue to prosper under her leadership.

Charles A. Holt

President, Southern Economic Association

University of Virginia

Joseph M. Jadlow

Secretary-Treasurer, Southern Economic Association

Oklahoma State University