Vernon L. Smith

American economist · United States · On the map · Academics · Born 1927 · age 99

Vernon Lomax Smith is an American economist who is currently a professor of economics and law at Chapman University. 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.

Vernon L. Smith is read about 110 times a day, in 48 languages.

A typical day, 30 days to 17 September 2026

The middle day of the days counted, so one week of news cannot move it. The line under it is the last 60 days, one point a day.

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A life in dates

2018Honorary Doctorate from University of Lyon (ComUE)Award2014“In the Autumn semester, 1955, I taught Principles of Economics, and found it a challenge to convey basic microeconomic theory to students.”In their words13 June 2014Nobelprize.orgRead the whole statement

2008Hayek MedalAward2005“I can switch out and go into a concentrated mode and the world is completely shut out. If I'm writing something, nothing else exists...”In their words"Mildest autism has 'selective advantages'," 2005Read the whole statement

2002“Rules emerge as a spontaneous order-they are found-not deliberately designed by one calculating mind.”In their wordsp. 552.Read the whole statement

Prize in Economic Sciences in Memory of Alfred NobelAward1989“Theory should be ever more demanding of our empirical resources.”In their wordsp. 168.Read the whole statement

1987Fellow of the Econometric SocietyAward1982“It is not possible to design a laboratory resource allocation experiment without designing an institution in all its detail.”In their wordsp. 923.Read the whole statement

1980“Three precepts are offered to constitute a foundation for the use of laboratory experimental methods in testing hypotheses about the behavior of allocation mechanisms.”In their wordsp. 346.Read the whole statement

1927Born1 January 1927

People around Vernon

Close ties

John A. List Influenced by Vernon

Also in Deutsch

Media & music

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In their own words 4

Vernon L. Smith

4 statements, newest first

The vast majority of individuals with Asperger Syndrome need help - without that help they won't be able to do very well.
2005 · "Mildest autism has 'selective advantages'," 2005, Own words
I think it's different kinds of minds, and the recognition that certain mental deficiencies may actually have some selective advantages in terms of activities.
2005 · "Mildest autism has 'selective advantages'," 2005, Own words
Economics as currently learned and taught in graduate school and practiced afterward is more theory-intensive and less observation-intensive than perhaps any other science.
1989 · p. 151., Own words

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Awards

Honorary Doctorate from University of Lyon (ComUE)2018

Hayek Medal2008

Prize in Economic Sciences in Memory of Alfred Nobel2002

Fellow of the Econometric Society1987

Distinguished Fellow of the American Economic Association

About this person

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."

Country

United States

In common with Vernon

Robert Lucas Jr.Both received Prize in Economic Sciences in Memory of Alfred Nobel

Finn E. KydlandBoth received Prize in Economic Sciences in Memory of Alfred Nobel

Pierre-Marc JohnsonBoth received Honorary Doctorate from University of Lyon (ComUE)Robert B. WilsonBoth received Prize in Economic Sciences in Memory of Alfred Nobel

Claudia GoldinBoth received Prize in Economic Sciences in Memory of Alfred Nobel

William NordhausBoth received Prize in Economic Sciences in Memory of Alfred Nobel