CONTACT: GEORGE MCCRORY
300 Plaza Centre One
Iowa City IA 52242
(319) 384-0012; fax (319) 384-0024
Release: Sept. 3, 2002
Ida Beam Visiting Professor to discuss energy deregulation Sept. 10
Smith, a professor of Economics and Law at George Mason University, will discuss
deregulation in the California energy markets Sept. 10 as an Ida Cordelia
Beam Distinguished Visiting Professor.
The Economics Department at the Henry B. Tippie College of Business will
present Professor Smith's lecture, "California: Energy or Market Design
Crisis" at 8 p.m. Sept. 10 in the Tippie Auditorium (Room W151) of the
John Pappajohn Business Building (PBB).
California was plagued with brownouts, blackouts and threats of significantly
higher prices for electricity during the summer of 2000. Smith will discuss
whether the deregulation of California energy markets was a prime factor in
precipitating the energy crisis and if it could have been avoided.
"Given plans by the state of Iowa to deregulate its wholesale electricity
markets in the near future, as well the Iowa City Council's consideration
of a proposal to create a publicly owned municipal electric utility, this
lecture is quite timely," said April Franco, assistant professor of economics
in the Tippie College of Business. She added that Smith is considered to be
a likely candidate for a Nobel Prize in Economics as a result of his work
in the field of experimental economics.
Smith, a leader in the area of experimental economics and market design,
has served as a consultant on the privatization of electric power in Australia
and New Zealand and participated in numerous private and public discussions
of energy deregulation in the United States. In 1997 he served as a Blue Ribbon
Panel Member, National Electric Reliability Council.
He has written over 200 articles and books on capital theory, finance, natural
resource economics and experimental economics. He serves or has served on
the board of editors of, among others, the American Economic Review, Science,
Economic Theory, and Games and Economic Behavior. He has been a Ford Foundation
Fellow, Fellow of the Center for Advanced Study in the Behavioral Sciences
and a Sherman Fairchild Distinguished Scholar at the California Institute
of Technology. He is a Fellow of the Econometric Society, the American Association
for the Advancement of Science, and the American Academy of Arts and Sciences,
and was elected a member of the National Academy of Sciences.
His visit is sponsored by the Economics Department of the Henry B. Tippie
College of Business and the Ida Cordelia Beam Visiting Professor Program.
Ida Beam, a native of Vinton, willed her family farm to the UI Foundation
in 1977 despite the fact that her only university connection was a relative
who graduated from the UI College of Medicine. With proceeds from the sale
of the farm, the UI established a fund to bring a variety of top scholars
to the university for lectures and discussions.
Individuals with disabilities are encouraged to attend all University of
Iowa sponsored events. If you are a person with a disability who requires
an accommodation in order to participate in this program, please contact the
Department of Economics in advance at 335-0829.