EDF’s Economic Advisory Council, launched in September 2014, is comprised of some of the best minds and includes top academics, applied policy economists and practitioners. Together we can expand our impact.
Dallas Burtraw, Resources for the Future
Steeped in U.S. cap-and-trade and energy policy design, Dallas is one of the nation’s foremost experts on environmental regulation in the electricity sector. He has worked on creating a more efficient method for controlling air pollution. He also studies electricity restructuring, competition, and economic deregulation. He is particularly interested in incentive-based approaches for environmental regulation, the most notable of which is a tradable permit system, and recently has studied ways to introduce greater cost-effectiveness into regulation under the Clean Air Act. He serves as Darius Gaskins Senior Fellow at Resources for the Future.
Frank Convery, Environmental Defense Fund
Frank’s research and teaching has concentrated on how to mobilize markets to protect and enhance the environment. His work has involved promoting such policies where they do not exist. Once they have been implemented, his focus is on understanding how they work, and to what environmental and economic effect. At the European level, he has had a particular interest in the European Union Emissions Trading Scheme (EU ETS) exemplified by his leadership of the European Union’s research network on emissions trading and his book (with Ellerman and de Perthuis) - Pricing Carbon: the European Union Emissions Trading Scheme, Cambridge University Press, 2010. In Ireland, he is associated with the promotion and understanding of the plastic bags levy, pay by weight for waste, and the carbon tax. Frank currently serves as EDF’s Chief Economist.
Chris Costello, University of California, Santa Barbara
Chris holds the Donald Bren Chair in Environmental Management at the University of California, Santa Barbara. He is a globally-respected natural resource economist with an active research agenda on marine policy, incomplete property rights, climate change adaptation, and public decision-making under uncertainty. His work combines theoretical work from economics with empirical analysis to inform real-world policy, and often involves multi-disciplinary collaborations. He has been actively engaged with EDF’s Oceans and Ecosystems Committees for more than 5 years. Chris has published over 75 peer-reviewed research papers in prominent outlets such as Science, Nature, Proceedings of the National Academy of Sciences, among more specialized economics journals. He has earned numerous professional awards including: The Sustainability Science Award by the Ecological Society of America, the Most Influential Paper of 2008 by the journal Nature, election to the board of directors for the Association of Environmental and Resource Economists, appointment as co-editor for the Journal of Environmental Economics & Management, appointment as Research Associate with the National Bureau of Economic Research, and appointment to the Science Advisory Boards of the Monterey Bay Aquarium Seafood Watch, Ocean Protection Council, National Geographic Ocean Restoration Council, among others.
Maureen Cropper, University of Maryland
Maureen is a Distinguished University Professor of Economics at the University of Maryland, a Senior Fellow at Resources for the Future, and a former Lead Economist at the World Bank. She has served as chair of the EPA Science Advisory Board Environmental Economics Advisory Committee and as president of the Association of Environmental and Resource Economists. She is a member of the National Academy of Sciences, a Research Associate of the National Bureau of Economic Research, and a Fellow of the Association of Environmental and Resource Economists. Her research has focused on valuing environmental health effects, on discounting and on the tradeoffs implicit in environmental regulations. Maureen’s current research examines the effectiveness of energy sector reforms and environmental programs in India.
Carolyn Fischer, Resources for the Future
Carolyn has broad expertise in environmental market design, with a special focus on trade issues. She is a great economic theorist and modeler who works on the A to Z of environmental policy mechanism design, from allowance allocation in emissions trading schemes to wildlife management in Zimbabwe. In the areas of climate change and energy policy, she has published articles on designing cap-and-trade programs, fuel economy standards, renewable portfolio standards, energy efficiency programs, technology policies, the Clean Development Mechanism, and the evaluation of international climate policy commitments. Carolyn is a Senior Fellow at Resources for the Future and currently visiting the Fondazione Eni Enrico Mattei (FEEM) in Venice as a Marie Skłodowska–Curie Fellow, sponsored by the European Commission.
Michael Hanemann, Arizona State University
Michael is Professor and Julie A. Wrigley Chair in Sustainability in the Department of Economics at ASU, and Chancellor’s Professor Emeritus at the University of California, Berkeley. He is Director of the Center for Environmental Economics and Sustainability Policy at ASU. He is a leading environmental economist with broad interests in human behavior, policy design, and the intersection of real world phenomena with economic theory. He works in the areas of non-market valuation, water economics and policy, and climate change. He pioneered the development of the two main approaches now used in many fields of economics for non-market valuation. He has worked extensively on water, serving at one time as the economic staff for California’s water rights agency. He was founding director of the California Climate Change Center at UC Berkeley. He is a member of the U.S. National Academy of Sciences, an inaugural Fellow of the Association of Environmental & Resource Economists and a Fellow of the American Association of Agricultural Economics, and he received the Lifetime Award for Outstanding Achievement from the European Association of Environmental & Resource Economists.
Geoffrey Heal, Columbia Business School
Geoffrey, Paul Garrett Professor of Public Policy and Corporate Responsibility at Columbia Business School, is noted for contributions to economic theory and resource ad environmental economics. Author of eighteen books and about two hundred articles, he is a Fellow of the Econometric Society, Past President of the Association of Environmental and Resource Economists, recipient of its prize for publications of enduring quality and a Life Fellow, and Director of the Union of Concerned Scientists. Recent books include Endangered Economies, Nature and the Marketplace, Valuing the Future and When Principles Pay. He chaired a committee of the National Academy of Sciences on valuing ecosystem services, was a Commissioner of the Pew Oceans Commission, was a coordinating lead author of the IPCC’s Fifth Assessment Report, co-founded and Chairs the Advisory Board of the Coalition for Rainforest Nations and was a member of President Sarkozy’s Commission on the Measurement of Economic Performance and Social Progress. He has been a principal in two start-up companies, one a consulting firm and the other in software and telecommunications.
Bob Litterman, Founding partner of Kepos Capital
Kepos Capital is a New York City based systematic global macro firm. Prior to joining Kepos Capital in 2010, Bob enjoyed a 23-year career at Goldman, Sachs & Co., where he served in research, risk management, investments and thought leadership roles. He oversaw the Quantitative Investment Strategies Group in the Asset Management division. While at Goldman, Bob also spent six years as one of three external advisors to Singapore’s Government Investment Corporation (GIC). Bob was named a partner of Goldman Sachs in 1994 and became head of the firm-wide risk function; prior to that role, he was co-head of the Fixed Income Research and Model Development Group with Fischer Black. During his tenure at Goldman, Bob researched and published a number of groundbreaking papers in asset allocation and risk management. He is the co-developer of the Black-Litterman Global Asset Allocation Model, a key tool in investment management, and has co-authored books including The Practice of Risk Management and Modern Investment Management: An Equilibrium Approach (Wiley & Co.). Bob earned a Ph.D. in Economics from the University of Minnesota and a B.S. in Human Biology from Stanford University. He was inducted into Risk Magazine’s Risk Management Hall of Fame and named the 2013 Risk Manager of the Year by the Global Association of Risk Professionals. In 2012, he was the inaugural recipient of the S. Donald Sussman Fellowship at MIT’s Sloan School of Management. In 2008, Bob received the Nicholas Molodovsky Award from the CFA Institute Board as well as the International Association of Financial Engineers/SunGard Financial Engineer of the Year Award. He is also the Executive Editor of the Financial Analysts Journal. Bob serves on a number of boards, including Commonfund, where he was elected Chair in 2014, Resources for the Future, Robert Wood Johnson Foundation, the Sloan Foundation, and World Wildlife Fund.
Juan-Pablo “J.P.” Montero, PUC Chile
Juan-Pablo has broad expertise in regulatory and environmental economics. His research focuses primarily on Industrial Organization and Environmental and Resource Economics. With several publications in top journals such as the American Economic Review and the Journal of Political Economy, he is widely thought of as one of the most prominent academic economists in Latin America. J.P. is Professor of Economics and Research Director at the Economics Department of the Pontifica Universidad Catolica de Chile (PUC-Chile).
Richard “Ricky” L. Revesz, New York University School of Law & Institute for Policy Integrity
Ricky is the Lawrence King Professor of Law and Dean Emeritus at the NYU School of Law, where he also directs the Institute for Policy Integrity (which he co-founded in 2008). He is one of the nation’s leading voices in the fields of environmental and regulatory law and policy. His work focuses on the use of cost-benefit analysis in administrative regulation, federalism and environmental regulation, design of liability regimes for environmental protection, and positive political economy analysis of environmental regulation. His book Retaking Rationality: How Cost-Benefit Analysis Can Better Protect the Environment and Our Health (with Michael Livermore ‘06, 2008) contends that the economic analysis of law can be used to support a more protective approach to environmental and health policy. Revesz is the director of the American Law Institute, a fellow of the American Academy of Arts and Sciences and a member of the Council on Foreign Relations, and the Administrative Conference of the United States.
Thomas Sterner, Environmental Defense Fund & University of Gothenburg
At EDF, Thomas formerly served as Visiting Chief Economist (2012-2013) and currently holds the role of Senior Contributing Economist. His research has focused on discounting and on the design of policy instruments for environmental and natural resource management. He has founded the Environmental Economics Unit in Gothenburg which has trained more than 30 PhDs from developing countries and created the Environment for Development Initiative that promotes policy oriented research in developing countries. He is a member of several research boards and similar in China, East Asia and Africa. He has served as President of the European Association of Environmental and Resource Economists (EAERE), was a Coordinating Lead Author of the IPCC fifth Assessment Report, was elected to a chaire annuelle 2015-16 at the Collège de France in Paris, and is one of the leading voices in the European debate on the design of policy instruments.