What Went Wrong With California’s Restructured Electricity Market?

Frank A. Wolak
November, 2000

Frank A. Wolak received his Ph.D. and S.M. from Harvard University. He is a Professor of Economics at Stanford University, and the Chairman of the Market Surveillance Committee of the California Independent System Operator for the state’s electricity supply industry. He is a visiting scholar at University of California Energy Institute and a Research Associate of the National Bureau of Economic Research (NBER). Wolak is also an associate editor of the Journal of Industrial Economics and Journal of Econometrics.

Professor Wolak’s fields of specialization are industrial organization and econometric theory. His recent work studies methods for introducing competition into formerly regulated infrastructure industries-telecommunications, electricity, water delivery and postal delivery services-and on assessing the impacts of these competition policies on consumer and producer welfare.

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