Jean-Jacques Laffont is Professor of Economic Sciences at the Université des Sciences Sociales de Toulouse and the founding Director of the Institut d'Economie Industrielle. His interests include public economics, the economics of uncertainty, incentives in public decision-making, and econometrics. His most recent work focuses on the theory of incentives and the economics of regulation as applied to the telecommunications industry. Laffont received the Yrjö-Jahnsson medal with Jean Tirole for work collected in the 1993 book, A Theory of Procurement and Regulatio (1993). A recent book, "Price Controls and the Economics of Institutions in China (1997), written with Claudia Senik-Leygonie, reflects concerns with pricing policies in developing countries. (#23376)