CURRICULUM VITAENANCY LIN ROSECharles P. Kindleberger Professor of Applied Economics, MIT Department of EconomicsVisiting Scholar, Mossavar-Rahmani Center for Business & Government, Harvard Kennedy SchoolHarvard Kennedy School, Ofer 408Cambridge, MA 02138phone (617) 253-8956 [email protected] (Economics), MIT, 1985A.B. (Economics and Government, magna cum laude), Harvard University, 1980Employment20222021-222017-20202014 -20162013 -20142010 1997-20101995-971994-951990 - 20141989-941985-891980-81Visiting Scholar, Mossavar-Rahmani Center for Business & Government, HarvardKennedy School, Harvard UniversityMatina S. Horner Distinguished Visiting Professor, Radcliffe Institute for AdvancedStudy, Harvard UniversityHead, MIT Department of EconomicsDeputy Assistant Attorney General for Economic Analysis, Antitrust Division, U.S.Department of JusticeAssociate Head, MIT Department of EconomicsCharles P. Kindleberger Professor of Applied Economics, MIT Department ofEconomicsProfessor of Economics, MIT Department of EconomicsProfessor of Management and Economics, MIT Sloan School of Management andDepartment of EconomicsAssociate Professor of Management and Economics, MIT Sloan School ofManagement and Department of EconomicsDirector, National Bureau of Economic Research Program on IndustrialOrganizationAssociate Professor of Applied Economics, MIT Sloan School of ManagementAssistant Professor of Applied Economics, MIT Sloan School of ManagementStaff Economist. Leva, Hawes, Symington et al. (attorneys), Washington, D.C.Board Service2009 - 20142004 - 20142003 - 20131994 - 2000Whitehead Institute for Biomedical Research, Director, and Chair, FinanceCommittee (2012-2014)Charles River Associates, Inc., Independent DirectorSentinel Investments, Sentinel Group Mutual Funds Independent Director, andChair, Governance Committee (2012-2013)MIT Medical Management Board

Nancy L. Rose – September 2022Honors and FellowshipsFellow, Radcliffe Institute for Advanced Study, Matina S. Horner Distinguished2021-22Visiting ProfessorCarolyn Shaw Bell Award, American Economic Association Committee on the Status2020of Women in the Economics Profession2019Wellington-Burnham Lecturer, Tufts University2018Distinguished Fellow, Industrial Organization Society2018-Member, American Academy of Arts and Sciences2017Bernie Saffran Lecturer, Swarthmore College2016Bernard I. Fain Lecturer, Brown University2013American Economic Association Vice-President2012MacVicar Faculty Fellow, MIT-wide Award for Undergraduate Teaching2011MIT Undergraduate Economics Association Teaching Award2008MIT Graduate Economics “Meta Advisor” Award2004-2005John Simon Guggenheim Foundation Fellowship2004MIT Undergraduate Economics Association Teaching Award2004Visiting Scholar, Hoover Institution2000-01George & Karen McCown Distinguished Visiting Fellow, Hoover Institution2000MIT Undergraduate Economics Association Teaching Award1993-94Fellow, Center for Advanced Study in the Behavioral Sciences1991-96National Science Foundation Faculty Award for Women Scientists, SES-90-241471991-93Alfred P. Sloan Faculty Fellowship1990National Bureau of Economic Research, Research AssociateNational Science Foundation Grant, "Economic Determinants of Airline Safety," SES1988-9087-21457Visiting Scholar, Center for the Study of the Economy and the State, University of1988Chicago1987-90National Bureau of Economic Research, Faculty Research Fellow1987-88John M. Olin Faculty Fellowship1984Sloan Foundation Graduate Research Fellowship1981-85National Science Foundation Graduate Fellowship1980Phi Beta KappaProfessional Service20222022202120202020-20212019-Vice President, Western Economics AssociationPresident, Industrial Organization SocietyMember, CEPR Competition Policy Research and Policy NetworkSelection Committee for Distinguished Fellow, Industrial Organization SocietyVice President, Industrial Organization SocietyAdvisory Council, The Hamilton Project

Nancy L. Rose – September 20222018 20182017 -2020201420142013-20142013-20142011 - 20142013201320132012 - 20132012201220112009 - 201120102005 - 20082004, 200920032002 - 200320021999 – 20021999 – 20022001199919981997199619891988-90Advisory Board, American Antitrust InstituteSelection Committee for Distinguished Fellow, Industrial Organization SocietyAdvisory Council Member, Brookings Institution Center on Regulation and MarketsAEA Nominations CommitteeMember, AEA Committee on Operations and PublicationsChair, AEA Ad Hoc Committee on Job Market Systems DesignCommittee Member, National Academy of Sciences/Transportation ResearchBoard Study of Freight Rail Transportation and RegulationCommittee on Economic Education, AEAAEA Nominations CommitteeExternal Review Committee, Resources for the FutureBoard of Advisors, Yale Program on Financial StabilityVice President, American Economic Association (AEA)AEA CSWEP Elaine Bennett Award Committee, ChairProgram Committee, AEA 2013 annual meetingScientific Advisory Committee, Federal Trade Commission 4th AnnualMicroeconomics ConferenceProject Team Member, MIT Study on The Future of the Electric GridProgram Committee, AEA 2011 Annual MeetingBoard Member, AEA Committee on the Status of Women in the EconomicsProfession (CSWEP)Quinquennial Review Committee, Wharton School Business and Public PolicyDepartmentNominations Committee, AEAProgram Committee, 2003 International Industrial Organization ConferenceNominations Committee, AEAExecutive Committee, AEABudget Committee, AEAProgram Committee, Econometric Society North American Winter MeetingsProgram Committee, AEA annual meetingUniversity of Pennsylvania Law School External Review CommitteeNominations Committee, AEAProgram Committee, American Economic Association (AEA) annual meetingProgram Committee, Econometric Society North American Winter MeetingsAssistant Director, National Bureau of Economic Research Project on Regulatoryand Legal InstitutionsEditorial Activities2021 1995-971993-971993-2003Associate Editor, Journal of Economic PerspectivesBoard of Editors, American Economic ReviewEditorial Board, Journal of Industrial EconomicsAssociate Editor, Review of Economics and Statistics

Nancy L. Rose – September 20221990-921989-921989 -- 2005Associate Editor, Journal of Industrial EconomicsAssociate Editor, Journal of Financial IntermediationCo-Editor, MIT Press Series on the Regulation of Economic ActivityResearch and Teaching InterestsIndustrial Organization, Competition Policy, Economics of Regulation, Energy Economics, TransportationMarketsDoctoral Dissertation Committees Year, Student (Department), Initial PlacementAdam Harris (Economics)InMaggie Yellen (Economics)processRebekah Dix (Economics)2020Omer Karaduman (Economics), Stanford University Post-Doc2016Gaston Illanes (Economics), Northwestern University Department of EconomicsSarah Moshary (Economics), eBay Post-doctoral Fellowship, University of Pennsylvania2015Department of Economics2014Brad Shapiro (Economics), Chicago Booth School of Business2014Maria Polyakova [Breiter] (Economics), Stanford Medical School2011Mar Reguant (Economics), Stanford Graduate School of Business2011Claire Cizaire (Aeronautics & Astronautical Engineering)2009Tom Y. Chang (Economics), University of Southern California, Marshall School2006Antara Dutta (Economics), Georgetown University, Walsh School of Foreign Service2006David Matsa (Economics), Northwestern University, Kellogg School of Management2005Lesley Chiou (Economics), Occidental College Department of Economics2004Thomas Gorin (Aeronautics and Astronautical Engineering), Continental Airlines2003Mara Berman [Lederman] (Economics), University of Toronto, Rotman School of BusinessSilke Januszewski [Forbes] (Economics), University of California, San Diego, Department of2003Economics2003Terence Fan (Transportation Systems and Policy Analysis), Singapore University2002Astrid Dick (Economics), Federal Reserve Bank of New York2002Michael Noel (Economics), University of California, San Diego2001Mark Rainey (Economics), Lexecon2001Eric Zitzewitz (Economics), Stanford University, Graduate School of Business1999Alan Sorensen (Economics), University of California, San Diego, Department of Economics1998Daniel Rodriguez (Economics), Emory University, Graduate School of Business,1997Meghan Busse (Economics), Yale University, School of Organization and Management1996Catherine Wolfram (Economics), Harvard University, Department of Economics1994Fiona Scott Morton (Economics), Stanford University, Graduate School of Business1993Gerard McCullough (Civil Engineering), Putnam Hayes Bartlett1991Patrick Little (Civil Engineering)1991Mark McCabe (Sloan)

Nancy L. Rose – September 202219901988Anne Gron (Economics), University of Chicago, Graduate School of BusinessRobert Rubinovitz (Economics)Publications“What Next for the Horizontal Merger Guidelines?” Antitrust. 36 (Spring 2022, 2): 4-13. (with C. Shapiro).“The Dichotomous Treatment of Efficiencies in Horizontal Mergers: Too Much? Too Little? Getting itRight.” University of Pennsylvania Law Review, 168 (June 2020): 1941-1984. (with J. Sallet). JerryS. Cohen Award for Antitrust Scholarship, American Antitrust Institute (2021).“Concerns about Competition.” In M. S. Kearney and A. Ganz, eds., Maintaining the Strength of AmericanCapitalism. Aspen Institute Economic Strategy Group. November 2019."Five Principles for Vertical Merger Enforcement Policy." Antitrust 33 (Summer 2019): 12-19. (with J. B.Baker, S. C. Salop, and F. Scott Morton)“Mergers That Harm Sellers.” Yale Law Journal, 127 (May 2018): 2078-2109. (with C. S. Hemphill)Concurrences (2019) and American Antitrust Institute (2019) writing awards.“Economics at the Antitrust Division 2015-2016: Household Appliances, Oil Field Services, and AirportSlots.” Review of Industrial Organization. 49 (December 2016, 4): 535-556. (with R. Chugh, N.Goldstein, E. Lewis, J. Lien, & D. Minehart)“Economics at the Antitrust Division 2014–2015: Comcast/Time Warner Cable and AppliedMaterials/Tokyo Electron.” Review of Industrial Organization. 47 (December 2015, 4): 425-435.(with N. Hill and T. Winston).“Learning from the Past: Insights for the Regulation of Economic Activity.” In N. L. Rose, ed., EconomicRegulation and Its Reform: What Have We Learned? National Bureau of Economic Research andUniversity of Chicago Press. 2014.“How Airline Markets Work, or Do They? Regulatory Reform in the Airline Industry.” In N. L. Rose, ed.,Economic Regulation and Its Reform: What Have We Learned? National Bureau of EconomicResearch and University of Chicago Press. 2014. (with S. Borenstein).Economic Regulation and Its Reform: What Have We Learned? Editor. Chicago: NBER and University ofChicago Press. 2014.“After Airline Deregulation and Alfred E. Kahn.” American Economic Review Papers and Proceedings.102 (May 2012): 376-380.The Future of the Electric Grid. Cambridge, MA: MIT Energy Initiative. 2011. (Contributor to MITinterdisciplinary study chaired by J. G. Kassakian and R. L. Schmalensee)“Air Transportation Deregulation: Comment.” In Better Living Through Economics, edited by J. J.Siegfried. Cambridge: Harvard University Press. 2010. pp. 203-205.

Nancy L. Rose – September 2022“airline industry.” In The New Palgrave Dictionary of Economics. Second Edition. edited by S. N. Durlaufand L. E. Blume. Palgrave MacMillan. 2008. (with S. Borenstein). Also at The New PalgraveDictionary of Economics Online. Palgrave http// pde2008 A000226 doi10.1057/9780230226203.0026 Macmillan.“Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric GenerationEfficiency.” American Economic Review 97 (September 2007): 1250-1277. (with K. R. Fabrizio andC. D. Wolfram).“The Impact of Bankruptcy on Airline Service Levels.” American Economic Review Papers and Proceedings93 (May 2003): 415-419. (with S. Borenstein)“Regulating Executive Pay Using the Tax Code to Influence Executive Compensation." Journal of LaborEconomics 20 (April 2002, part 2): S138-S175. (with C. Wolfram)"Regulation, Political Economy of" In N. Smelser and P. Baltes, eds. International Encylopedia of the Socialand Behavioral Sciences. Oxford: Pergamon. 2001. 19: 12967-12970."Regulation, Empirical Analysis." In N. Smelser and P. Baltes, eds. International Encylopedia of the Socialand Behavioral Sciences. Oxford: Pergamon. 2001. 19: 12957-12963."Has the 'Million-Dollar Cap' Affected CEO Pay?" American Economic Review Papers and Proceedings 90(May 2000): 197-202. (with C. Wolfram)“Airline Deregulation.” In P. Newman, ed. The New Palgrave Dictionary of Economics and the Law,London: Macmillan. 1998. (with S. Borenstein)"Diversification and Executive Compensation: Ability Premia or Managerial Entrenchment?" RANDJournal of Economics 28 (Autumn 1997): 489-514. (with A. Shepard)"Political Constraints on Executive Compensation Evidence from the Electric Utility Industry." RANDJournal of Economics 27 (Spring 1996): 165-182. (with P. L. Joskow and C. D. Wolfram). Reprintedin K. F. Hallock and K. J. Murphy, eds. The Economics of Executive Compensation, Vol. 2.Northampton, MA: Edward Elgar Publishing. 1999."Bankruptcy and Pricing Behavior in U.S. Airline Markets." American Economic Review Papers andProceedings 85 (May 1995): 397-402. (with S. Borenstein)"Competition and Price Dispersion in the U.S. Airline Industry." Journal of Political Economy 102 (August1994): 653-683. (with S. Borenstein)"Regulatory Constraints on CEO Compensation." Brookings Papers on Economic Activity - Microeconomics1993, pp. 1-58. (with P.L. Joskow and A. Shepard)"Fear of Flying? Economic Analyses of Airline Safety." Journal of Economic Perspectives 6 (Spring 1992):75-94. Reprinted in P. Forsyth, K. Button, and P. Nijkamp, eds. Classics in Transport Analysis, vol.2. Northampton, Mass.: Elgar Publishing. 2002.

Nancy L. Rose – September 2022"The Diffusion of New Technologies: Evidence from the Electric Utility Industry." RAND Journal ofEconomics 21 (Autumn 1990): 354-373. (with P. L. Joskow)"Profitability and Product Quality: Economic Determinants of Airline Safety Performance." Journal ofPolitical Economy 98 (October 1990): 944-964. Reprinted in H. Mohring, ed. The Economics ofTransport. Aldershot, England: Edward Elgar Publishing. 1994. And K. J. Button and R. Stough,eds. Transport Policy. Northampton, MA: Edward Elgar Publishing. 1998."Financial Influences on Airline Safety." In L. Moses and I. Savage, eds. Transportation Safety in an Age ofDeregulation. Oxford: Oxford University Press. 1989, pp. 93-114."The Effects of Economic Regulation." In R. Schmalensee and R. Willig, eds. Handbook of IndustrialOrganization. Amsterdam: North-Holland. 1989. Volume 2, pp. 1449-1506. (with P. L. Joskow)"An Economic Assessment of Surface Freight Transportation Deregulation." In Economic DeregulationPromise and Performance. Proceedings of the 1987 Donald S. MacNaughton Symposium.Syracuse: Syracuse University. 1988, pp. 149-172."Economic Analysis of Communications Satellite Policies." Comments in Proceedings of a Symposium onSpace Communications Research and Development. Space Applications Board, National ResearchCouncil. Washington, D. C. : National Research Council. 1988, pp. 198-201."Labor Rent-Sharing and Regulation: Evidence from the Trucking Industry." Journal of Political Economy95 (December 1987): 1146-1178. Reprinted in P. L. Joskow, ed. Economic Regulation.Northampton, MA: Edward Elgar Publishing. 2000."The Government's Role in the Commercialization of New Technologies: Lessons for Space Policy." In M.Macauley, ed. Economics and Technology in U.S. Space Policy. Washington, D.C.: Resources forthe Future. 1987, pp. 97-126."The Incidence of Regulatory Rents in the Motor Carrier Industry." Rand Journal of Economics 16 (Autumn1985): 299-318. Reprinted in Portfolio International Economic Perspectives, vol. 13 (4) and in P.L. Joskow, ed. Economic Regulation. Northampton, MA: Edward Elgar Publishing. 2000."Passing the President's Program: Public Opinion and Presidential Influence in Congress." AmericanJournal of Political Science 29 (May 1985): 183-196. (with D. Rivers)"The Effects of Technological Change, Experience, and Environmental Regulation on the ConstructionCosts of Coal-Burning Generating Units." Rand Journal of Economics 16 (Spring 1985): 1-27. (withP. L. Joskow)Other“Opening Statement of Professor Nancy L. Rose,” Senate Judiciary Committee Subcommittee on Antitrust,Consumer Protection and Consumer Rights, Hearings on “Competition Policy for the Twenty-firstCentury: The Case for Antitrust Reform,” 11 March 2021.

Nancy L. Rose – September 2022“Restoring competition in the United States: A vision for antitrust enforcement for the nextadministration and Congress.” Washington Center for Equitable Growth. November 2020. (withB. Baer, J. B. Baker, M. Kades, F. Scott Morton, C. Shapiro, and T. Wu.)“Will Competition be Another COVID-19 Casualty?” The Hamilton Project. Essay 2020-15. July 2020.“Joint Response to the House Judiciary Committee on the State of Antitrust Law and the Implications forProtecting Competition in Digital Markets,” April 30, 2020. (with J. Baker et al.) Howard LawResearch Paper, posted on SSRN, 2 July 2020, 3632532 .“Principles and presumptions for U.S. vertical merger enforcement policy,” Blog post on WashingtonCenter for Equitable Growth Competitive Edge, May 7, 2019. (with J. B. Baker, S. C. Salop, andF. Scott Morton)“Thinking Through Anticompetitive Effects of Mergers on Workers,” Continuing Legal Education Materialfor American Bar Association 2019 Antitrust Spring Meeting, February 2019

Mar 11, 2021