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Richard Schmalensee

Richard L. Schmalensee is John C. Head III Dean and Professor of Management and Economics at the MIT Sloan School of Management. He is co-editor of Management: Inventing and Delivering Its Future (MIT Press, 2003).

Titles by This Author

How Software Platforms Drive Innovation and Transform Industries

Winner of the Business, Management & Accounting category in the 2006 Professional/Scholarly Publishing Annual Awards Competition presented by the Association of American Publishers, Inc.

The Digital Revolution in Buying and Borrowing

The payment card business has evolved from its inception in the 1950s as a way to handle payment for expense-account lunches (the Diners Club card) into today's complex, sprawling industry that drives trillions of dollars in transaction volume each year. Paying with Plastic is the definitive source on an industry that has revolutionized the way we borrow and spend.

Inventing and Delivering Its Future

The MIT Sloan School of Management, as conceived by the legendary General Motors chairman Alfred P. Sloan, was founded in 1952 to draw on the scientific and technical resources of MIT and approach the problems of management with the rigorous research practices for which MIT was famous. Fifty years later, the Sloan School gathered international leaders in business and management, MIT faculty, students, and alumni to address again the basic principles that should guide business and management.

An Analysis of Electric Utility Deregulation

Markets for Power provides an unusually complete analysis of the economic, technical, and institutional aspects of the electric utility industry. The authors evaluate four currently popular options for deregulating this unique segment of the economy, and in a balanced program for reform, they advise against total deregulation and recommend a cautious approach to even partial deregulation.

Paul L. Joskow is Professor of Economics and Richard Schmalensee is Professor of Applied Economics, both at MIT

Titles by This Editor

Inventing and Delivering Its Future

The MIT Sloan School of Management, as conceived by the legendary General Motors chairman Alfred P. Sloan, was founded in 1952 to draw on the scientific and technical resources of MIT and approach the problems of management with the rigorous research practices for which MIT was famous. Fifty years later, the Sloan School gathered international leaders in business and management, MIT faculty, students, and alumni to address again the basic principles that should guide business and management.

"Regulation" has long been a venomous term in the conservative vocabulary, and "deregulation" (of the airlines and the trucking industry) has recently acquired a benign definition in the liberal lexicon. Across the political spectrum, there has been growing distrust of regulators, their motives, and their methods. The naive assumption that regulation necessarily operates in the public interest has been replaced by a healthy skepticism in some quarters, and by a facile (and often self-serving) cynicism in others.