Vernon Smith

Vernon Smith

Emeritus Faculty

Experimental economics, economic theory

Vernon L. Smith, often called the "father of experimental economics", is a leading scholar celebrated for transforming economics into an experimental science. He was awarded the Nobel Prize in Economic Sciences in 2002 for his pioneering work in using laboratory experiments to test economic theories, particularly regarding market mechanisms and price formation.

Smith served as Professor of Economics and Law from 2001 to 2008 at George Mason University. He founded the Interdisciplinary Center for Economic Science (ICES) at Mason, and served as a fellow of the Mercatus Center. He remains a Professor Emeritus at Mason, where a building on the Arlington campus is named in his honor.

Currently, Smith is a professor at Chapman University within the Argyros School of Business and Economics and the Fowler School of Law. At Chapman, he established the Economic Science Institute, a research center dedicated to the continued study of experimental methods in economics and across other disciplines.

An alum of Caltech (B.S.), the University of Kansas (M.A.), and Harvard University (Ph.D.), Smith has held previous appointments at universities including Purdue, Brown, and the University of Arizona.