Preston McAfee is Vice President and Research Fellow at Yahoo! Research in Burbank, CA, where he leads a group focused on microeconomics research.

From 2004-2007, R. Preston McAfee was the J. Stanley Johnson Professor of Business, Economics and Management at the California Institute of Technology.

McAfee wrote Introduction to Economic Analysis, a free, open-source text that spans both principles and intermediate microeconomics.

McAfee is the author of over seventy articles published in scholarly economics journals, many of them on auctions and bidding, and co-author of a book Incentives in Government Procurement.

McAfee served as one of four economists who edit the American Economic Review, the most prominent economics journal, for over nine years, and serves as an associate editor of the Theoretical Economics, a new open access journal.

He is a Fellow of the Econometric Society. McAfee taught business strategy at the University of Chicago's Graduate School of Business in 2000-1, and is the author of Competitive Solutions: The Strategist's Toolkit, published by Princeton University Press in 2003.