Vernon L. Smith

Vernon L. Smith
Smith in January 2011
Born
Vernon Lomax Smith

(1927-01-01) January 1, 1927 (age 97)
Wichita, Kansas, U.S.
EducationCalifornia Institute of Technology (BS)
University of Kansas (MA)
Harvard University (PhD)
Academic career
FieldExperimental economics
School or
tradition		New classical economics
Doctoral
advisor		Wassily Leontief
InfluencesFriedrich Hayek
Richard S. Howey
ContributionsCombinatorial auction
Experimental economics
AwardsNobel Memorial Prize in Economic Sciences (2002)
Information at IDEAS / RePEc
Academic background
ThesisA theoretical and empirical inquiry into the economic replacement of capital equipment (1955)

Vernon Lomax Smith (born January 1, 1927) is an American economist who is currently a professor of economics and law at Chapman University.[1] He was formerly the McLellan/Regent’s Professor of Economics at the University of Arizona, a professor of economics and law at George Mason University, and a board member of the Mercatus Center.[1] Along with Daniel Kahneman, Smith won the 2002 Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics and his work in the field of experimental economics, which helped establish “laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms”.[2][3]

Smith is the founder and president of the International Foundation for Research in Experimental Economics (IFREEE), a member of the Independent Institute’s board of advisors, and a senior fellow at the Cato Institute in Washington D.C. He was elected a Fellow of the Econometric Society in 1987, and was elected to the National Academy of Sciences in 1995.[4][5][1] In 2004, Smith was awarded an honorary doctorate by the Universidad Francisco Marroquín,[6] where the Vernon Smith Center for Experimental Economics Research is named for him.[7] He was also a founding board member of the Center for Growth and Opportunity at Utah State University.[8][9][10] As of 2023, Smith also sits on the Advisory Board of the Madden Center for Value Creation at Florida Atlantic University.[11]

  1. ^ a b c https://www.chapman.edu/our-faculty/files/curriculum-vita/Smith-Vernon-CV.pdf [bare URL PDF]
  2. ^ "Nobel Prize 2002". Archived from the original on 2020-10-26. Retrieved 2020-11-25.
  3. ^ Cite error: The named reference bio was invoked but never defined (see the help page).
  4. ^ "Member Directory - NAS".
  5. ^ "Current Fellows". www.econometricsociety.org. Retrieved 2024-06-12.
  6. ^ "Honorary Doctoral Degrees at Universidad Francisco Marroquín". Archived from the original on 2011-05-01.
  7. ^ "El Centro Vernon Smith de Economía Experimental". Universidad Francisco Marroquín. Archived from the original on 2017-07-08. Retrieved 2017-10-21.
  8. ^ "Board Members – Center for Growth and Opportunity". Archived from the original on 2018-05-18. Retrieved 2018-05-17.
  9. ^ "Vernon Smith: Board Member". Mercatus Center. 2008-08-15. Archived from the original on 2017-10-22. Retrieved 2017-10-21.
  10. ^ Cite error: The named reference cv was invoked but never defined (see the help page).
  11. ^ "Madden Center for Value Creation | FAU Business". business.fau.edu. Retrieved 2023-06-13.