As is the tradition at the journal, we are pleased to publish the extended abstracts from the winners of the 2005 MSOM Student Paper Competition. We do this to celebrate the achievements of these young scholars and to provide you with the opportunity to learn about their work in more detail. The 2005 prize committee was chaired by Serguei Netessine (University of Pennsylvania). The other committee members were Dan Adelman (University of Chicago), Philipp Afeche (University of Chicago), Yossi Aviv (Washington University), Fernando Bernstein (Duke University), Rene Caldentey (New York University), Jiri Chod (Boston College), Francis de Véricourt (Duke University), Laurens Debo (Carnegie Mellon University), Vinayak Deshpande (Purdue University), Wedad Elmaghraby (University of Maryland), Jeremie Gallien (Massachusetts Institute of Technology), Noah Gans (University of Pennsylvania), Vishal Gaur (New York University), Roman Kapuscinski (University of Michigan), Costis Maglaras (Columbia University), Ozalp Ozer (Stanford University), Rodney Parker (Yale University), Erica Plambeck (Stanford University), Ioana Popescu (INSEAD), Nils Rudi (INSEAD), Sergei Savin (Columbia University), Alan Scheller-Wolf (Carnegie Mellon University), Nicola Secomandi (Carnegie Mellon University), Xuanming Su (University of California, Berkeley), Julie Swann (Georgia Tech), Beril Toktay (Georgia Tech), Brian Tomlin (University of North Carolina), Tunay Tunca (Stanford University), Senthil Veeraraghavan (University of Pennsylvania), and Assaf Zeevi (Columbia University).

The 2005 prize winners are: First Place—Owen Q. Wu (University of British Columbia); Second Place—Guillaume Roels (Massachusetts Institute of Technology) and Ping Josephine Xu (Massachusetts Institute of Technology); Honorable Mention—Richard Lai (Harvard University), Qian Liu (Columbia University), and Gigi Yuen (Northwestern University)

Extended abstracts are presented for the following papers: (1) Optimal Control and Competitive Equilibrium of Production-Inventory Systems with Application to the Petroleum Refining Industry by Owen Q. Wu; (2) The Price of Information: Inventory Management with Limited Information About Demand by Guillaume Roels; (3) The Benefits of Re-Evaluating the Real-Time Fulfillment Decisions by Ping Josephine Xu; (4) Inventory and the Stock Market by Richard Lai; (5) Strategic Capacity Rationing to Induce Early Purchases by Qian Liu; and (6) Operations Systems with Discretionary Task Completion by Gigi Yuen.