Vernon L. Smith – Economic Advisor

Vernon Lomax Smith, professor of economics and law at Chapman University’s Argyros School of Business and Economics and School of Law in Orange, California, a former professor of economics and law at George Mason University, and a board member of the Mercatus Center in Arlington, Virginia.

In 2002, his work in experimental economics was recognized as he shared the Nobel Memorial Prize in Economic Sciences award for his use of laboratory experiments in economic analysis, which laid the foundation for the field of experimental economics.

Smith is the founder and president of the International Foundation for Research in Experimental Economics, a Member of the Board of Advisors for The Independent Institute, a Senior Fellow at the Cato Institute in Washington D.C., and a founding board member of the Center for Growth and Opportunity at Utah State University. In 2004 Smith was honored with an honorary doctoral degree at Universidad Francisco Marroquín, the institution that named the Vernon Smith Center for Experimental Economics Research after him.

Smith also has a long history with prestigious academic institutions in the United States. After completing his BA at Caltech, Smith went on to earn a MA in Economics at the University of Kansas and a PhD from Harvard University. This marked the start of a long and prolific career that included teaching at Stanford, Purdue, Brown University, University of Massachusetts, George Mason, Chapman, and Caltech among others.