Charles E Phelps is a professor at the University of Rochester (UR), a nationally prominent health economist, author of the textbook Health Economics (fourth edition), fellow of the National Bureau of Economic Research, member of the Institute of Medicine of the National Academy of Sciences (both since 1991), and a member of the Working Group on Health Care Policy. Before his twenty-five years at the UR, he served for fourteen years as the senior staff economist at the RAND Corporation. His interests include health economics, the economics of nonprofit organizations, decision theory, and the economics of risk and uncertainty. He has recently testified before Congress on matters of intellectual property legal reform and consults in matters of health economics. Phelps has served on numerous governing boards in both for-profit and nonprofit settings and received a PhD in business economics from the University of Chicago in 1973.