Duane Seppi is an Associate Professor of Financial Economics in the Graduate School of Industrial Administration at Carnegie Mellon University. He received his Ph.D. from the University of Chicago Graduate School of Business. He teaches regularly on stochastic processes for option pricing and on Monte Carlo simulation. His research interests include modeling spot and option prices for energy and other commodities and market microstructure issue such as futures manipulation, limit orders and market liquidity. His work has appeared in the Review of Financial Studies, the Journal of Finance and other leading finance and economics journals.