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Nobel Prize-Winning Economist and Chapman Professor Vernon L. Smith Participates in the Nicholas Academic Centers’ “Visiting Scholars Series”

Chapman University Nobel Laureate Vernon L. Smith and his colleague, Bart Wilson, delivered their second lecture as part of the Nicholas Academic Centers' "Visiting Scholar Series" at the NAC1 Annex. The two professors from Chapman's Economic Science Institute conducted "double auction" experiments with students learning how both buyers and sellers can benefit from market transactions. Drs. Smith and Wilson delivered their first lecture in the series in January 2011. Dr. Smith, known as the father of "Experimental Economics," was awarded the 2002 Nobel Prize in Economics for his work in using laboratory experiments to research why markets and other exchange systems work the way they do.