Stanford Emeritus Professor Masahiko Aoki passed away on July 15. Masa was for many years one of the department's brightest lights, a wonderful teacher and mentor, and an inspiration for a generation of scholars concerned with the economics of institutions, the theory of the firm, and corporate governance. He originally joined our department in 1967 as an assistant professor, left for Harvard, and returned to Stanford in 1984, where he was the Tomoye Takahasi Professor of Japanese Studies and Professor of Economics. Even after he retired in 2005, he remained actively engaged with the economics department, SIEPR, and FSI. He was also a good friend to many of us, and we will miss him.