Robert S. Pindyck is the Bank of Tokyo-Mitsubishi Professor of Economics and Finance in the Sloan School of Management at MIT. He is also a Research Associate of the National Bureau of Economic Research, and a Fellow of the Econometric Society, and he has been a Visiting Professor at Tel-Aviv University and Harvard University. He received his Ph.D. in Economics from MIT in 1971. Professor Pindyck’s research and writing have covered topics in microeconomics and industrial organization, the behavior of resource and commodity markets, financial markets, and econometric modeling and forecasting. His recent work in economics and finance has examined the determinants of market structure and market power, the dynamics of commodity spot and futures markets, criteria for investing in risky projects, and the role of R&D and the value of patents.