| Richard Schmalensee is Professor of Economics and Management at the Massachusetts Institute of Technology (MIT) and has been the John C Head III Dean of the MIT Sloan School of Management since 1998. He was as a Member of the President's Council of Economic Advisers from 1989 through 1991. Professor Schmalensee's research has centered on industrial organization economics and its application to managerial and public policy issues, with particular emphasis on antitrust, regulatory, and environmental policies. He is a Member of the International Academy of Management and a Fellow of the Econometric Society and the American Academy of Arts and Sciences. He is a Director of the International Securities Exchange and the International Data Group.