Title: Professor Emeritus, Dean Emeritus
Company: Massachusetts Institute of Technology
Location: Boston, Massachusetts, United States
Richard Schmalensee, Professor and Dean Emeritus at the Massachusetts Institute of Technology, has been recognized by Marquis Who’s Who Top Educators for dedication, achievements, and leadership in human relations, fundraising, and economics.
Dr. Schmalensee developed an interest in the field while studying at MIT during his freshman year. Uncertain about which career path he wanted to follow, he took an economics course where the choice became clear. Economics offered him the opportunity to review public policy and engage with people and businesses. He earned an undergraduate degree at the institution in 1965 and continued his studies to earn a PhD in 1970. While pursuing his doctorate, Dr. Schmalensee taught as an instructor at MIT. After earning the PhD, he translated this work into becoming an assistant professor at MIT and then the University of California, San Diego. He has also served as a visiting associate professor and research fellow at the Université Catholique de Louvain. In 1977, he returned to MIT and remained at the institution in growing positions until his retirement and emeritus designation in 2012. Prior to retiring, he was a Howard W. Johnson Professor.
In addition to his work in academics, Dr. Schmalensee has been involved in a number of roles that have utilized his skills and expertise in economics and policy. Since 2011, he has served as the Director of the Global Economics Group. In addition, he has served as the chairman of the editorial board of the Competition Policy International since 2009 and on the Board of Directors of the International Data Group since 2004. In addition, he has served as a founding editor of the Regulation of Economic Activity, as a fellow of the American Academy of Arts and Sciences, and a visiting scholar at Harvard University. Active in his community, Dr. Schmalensee has been the chair of Resources for the Future since 2014, as well as on the board of directors for the organization since 2009. Furthermore, Dr. Schmalensee has been on the board of directors of the National Bureau of Economic Research since 2013.
Dr. Schmalensee has received recognition for his work in studying and preparing students in the field throughout his career. From 1975 to 1977, and then again from 1981 to 1983, he was a grantee of the National Science Foundation, and in 1995, he received the Edward A. Hewett Prize from the American Association for the Advancement of Slavic Studies. He is also known for his extensive written work, including 2011’s “The Future of the Electric Grid,” 2015’s “The Future of Solar Energy” and 2010’s “Harnessing Renewable Energy in Electric Power Systems.” Earlier in his career, Dr. Schmalensee published “The Economics of Advertising,” “Markets for Power” and “The Control of Natural Monopolies.” He has been involved with the International Academy of Management, and the American Economic Association.
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