Richard Schmalensee is Howard W. Johnson Professor of Economics and Management, Emeritus at MIT. He has served as a member of the MIT Energy Council and was Director of the MIT Center for Energy and Environmental Policy Research for 12 years. He served as the John C Head III Dean of the MIT Sloan School of Management from 1998 through 2007. He was the Member of the President’s Council of Economic Advisers with primary responsibility for energy and environmental policy from 1989 through 1991. Professor Schmalensee has published 11 books and more than 120 articles; his work focuses on industrial organization economics and its policy applications, with a recent focus on energy and environmental policy. He was co-chair of the MIT Energy Initiative study The Future of the Electric Grid and chair of the The Future of Solar Energy. 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.