Frank A. Wolak is the Holbrook Working Professor of Commodity Price Studies in the Department of Economics at Stanford University. His fields of specialization are Industrial Organization and Econometric Theory. His recent work studies methods for introducing competition into infrastructure industries — telecommunications, electricity, water delivery and postal delivery services — and on assessing the impacts of these competition policies on consumer and producer welfare. From January 1, 1998 to March 31, 2011, Wolak was the Chair of the Market Surveillance Committee of the California Independent System Operator for electricity supply industry in California. He is a visiting scholar at University of California Energy Institute and a Research Associate of the National Bureau of Economic Research (NBER). He currently directs the Program on Energy and Sustainable Development (PESD) in the Freeman-Spogli Institute (FSI) for International Studies. Wolak was a member of the Emissions Market Advisory Committee (EMAC) for California’s Market for Greenhouse Gas Emissions allowances until 2013. This committee advises the California Air Resources Board on the design and monitoring of the state’s cap-and-trade market for Greenhouse Gas Emissions allowances..