Richard Schmalensee is Howard W. Johnson Professor of Economics and Management, Emeritus at MIT. He has served as Director of the MIT Center for Energy and Environmental Policy Research and, from 1998 through 2007, as Dean of the MIT Sloan School of Management. He was the Member of the President's Council of Economic Advisers with responsibility for energy and environmental policy from 1989 through 1991. Professor Schmalensee has published 11 books and more than 120 articles; his recent work focuses on applications of industrial organization economics to energy and environmental policy. He is a Fellow of the Econometric Society and the American Academy of Arts and Sciences, a Director of the National Bureau of Economic Research, and Chairman of the Board of Resources for the Future.