Vernon Smith

Professor of Economics and Law, George L. Argyros Endowed Chair in Finance and Economics at Chapman University

Vernon Lomax Smith (born January 1, 1927) is a renowned American economist and Nobel laureate currently serving as a professor of economics and law at Chapman University.1 2 3 He holds the George L. Argyros Endowed Chair in Finance and Economics.4

Key highlights of Vernon Smith's career include:

Nobel Prize: Awarded the Nobel Prize in Economic Sciences in 2002 for his groundbreaking work in experimental economics.1 2
Academic positions: Held faculty appointments at various institutions, including the University of Arizona, Purdue University, Brown University, University of Massachusetts, and George Mason University.1 2
Research contributions: Authored or co-authored over 350 articles and books on topics such as capital theory, finance, natural resource economics, and experimental economics.1 2
Honors and memberships: Elected to the National Academy of Sciences (1995), Fellow of the Econometric Society, American Association for the Advancement of Science, and American Academy of Arts and Sciences.1 2
Editorial roles: Served on the editorial boards of several prestigious economics journals.1 2
Educational background: Completed his undergraduate degree in electrical engineering at the California Institute of Technology, master's degree in economics at the University of Kansas, and Ph.D. in economics at Harvard University.1 2
Current roles: Professor at Chapman University, founder and president of the International Foundation for Research in Experimental Economics (IFREEE), and senior fellow at the Cato Institute.3

Smith's work has significantly contributed to the field of experimental economics, establishing laboratory experiments as a valuable tool in empirical economic analysis.3