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Publications

Vernon L. Smith BSEE, Ph.D.[Economics]

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002
Nobel co-recipient Daniel Kahneman

Electrical Engineer, Experimental Economist. Founder, International Foundation for Research in Experimental Economics; Founder Economic Science Institute at Chapman University.

"... If I am ever reborn, I hope to be a madman yet again ..."

Publications

2013 "Human economic choices as costly information processing." With J. Dickhaut, B. Xin, A. Rustichini. Journal of Economic Behavior and Organization, 94 pp. 206-221.

2013 "Transparency, efficiency and the distribution of economic welfare in pass-through investment trust games." With T. A. Rietz, R. M. Sheremeta, T. W. Shields. Journal of Economic Behavior and Organization, 94 pp. 257-267.

2013 "Routledge Revivals" Economics of Natural and Environmental Resources. (Ed. Vernon L. Smith) New York: Routledge (Originally published, 1977 by Gordon and Breach, Science Publishers).

2013 "Fiscal consolidation, depreciation, and recovery," With J. Buchanan & S. Gjerstad. Witherspoon Institute, to appear.

2013 "Adam Smith: From Propriety and Sentiments to Property and Wealth." Forum for Social Economics. July 16, 2013.

2013 "Of Houses and Hamburgers," The Daily Beast. April 16, 2013. Available online: http://www.thedailybeast.com/newsweek/2013/04/15/the-great-recession-and-the-property-bubble.html"

2013 "Using Laboratory Experiments in Logistics and Supply Chain Research." With C. Deck. Journal of Business Logistics, 34(1): 6-14.

2013 "Faith, science and religion." To appear in Eminent Economists II - Their Life and Work Philosophies. (Eds. M. Szenberg and L. Ramrattan). Cambridge: Cambridge University Press.

2012 "(m)eine entdeckungsreise" (my journey of discovery). Schweizer Monet, March 2012, p. 48

2012 "Commodity durability, trader specialization, and market performance." With J. Dickhaut, S. Lin, D. Porter. Proceedings National Academy of Science, 109, pp. 1425-30.

2012 "(M)eine Entdeckungsreise," Schweizer Dossier, 994, pp. 48-52. (Translation of the working paper: "The Marketplace: Friend or Foe of Human Betterment? - Insights from laboratory and economy.")

2012 "ObamaCare's Flawed Economic Foundations," Wall Street Journal, March 20, 2012.

2012 "Adam Smith on humanomic behavior," Edited transcript of keynote address, Academy of Behavioral Finance and Economics, UCLA. Journal of Behavioral Finance & Economics, 2, pp. 1-20.

2012 "Underwater recession," With J. A. Buchanan, & S. Gjerstad. The American Interest: Policy, Politics & Culture 12 (5). Available online: http://www.the-american-interest.com/article.cfm?piece=1229

2012 "Risk and the evolution of human exchange," With H. S. Kaplan, E. Schniter & B. J. Wilson. Proceedings of the Royal Society. April 18, 2012.

2012 "Prosperity and recession: consumption and investment booms in the twenties and their collapse in 1930," With S. Gjerstad. Housing and Mortgage Markets in Historical Perspective (Eds. K. Snowden and E. N. White). Chicago: University of Chicago Press for National Bureau of Economic Research.

2012 "At home in the great recession," With S. Gjerstad. The 4% Solution: Unleashing the Economic Growth America Needs. (Ed. B. Miniter). Chapter 5 (pp. 50-79). Dallas: Crown Publishing Group.

2011 "Antitrust and Bundled Discounts An Experimental Analysis--a reply" with T. Muris, A. Caliskan and B. Kobayashi. Antitrust Law Journal, 77, pp 683-699.

2011 "The road ahead: insolvency, policy, and economic stress," The Daily Beast. August 15, 2011. Available online: http://www.thedailybeast.com/newsweek/2011/08/15/vernon-l-smith-insolvency-policy-and-economic-stress.html

2011 "Fair and impartial spectators in experimental economic behavior," With B. J. Wilson. Oxford Philosophical Concepts: Sympathy (Ed. Eric Schliesser). Oxford: Oxford University Press.

2011 "Are capitalists happier?" With R. Rotunda & B. Wilson. Reuters, August 12, 2011. Available online: http://blogs.reuters.com/great-debate/2011/08/12/are-capitalists-happier/

2011 "US fiscal stimulus disproportionately increased imports and trade deficit; expect the reverse with austerity," With J.A. Buchanan & S. Gjerstad. Economists' Forum, July 26, 2011. Available online: http://blogs.ft.com/economistsforum/2011/07/the-us-fiscal-stimulus-disproportionately-increased-imports-and-the-trade-deficit-expect-the-reverse-with-austerity/#ixzz1TKHHobR9

2011 "Exchange, Specialization, and Property as a Discovery Process," History of Political Economy 43 (2), pp. 317-337.

2011 "Radio Spectrum and the Disruptive Clarity of Ronald Coase," With T.W. Hazlett & D. Porter. Journal of Law and Economics, 54(4) part 2.

2010 "Disequilibrium in the Housing Market," Newsweek. January 24, 2011. Available online: http://mobile.newsweek.com/s/2499/350?itemUriVal=5987071d402c0ca6e008e54d0b60189e%2F312150228110001676210250&fullStory=true&HeaderTltle=

2010 "What Ben Bernanke May Be Thinking," Wall Street Journal. December 1, 2010.

2010 "Why we're in for a Long, Hard Economic Slog," With S. Gjerstad. Wall Street Journal. September 10, 2010.

2010 "Please, No More Government Spending!" With S. Gjerstad. The Daily Beast, July 19, 2010. Available online: http://www.thedailybeast.com/blogs-and-stories/2010-07-19/please-no-more-government-spending/

2010 "Exchange, Theft, and the Social Formation of Property," With E. Kimbrough & B. Wilson. Journal of Economic Behavior and Organization, 74(3), pp. 206-229.

2010 "Theory and Experiment: What are the questions?" Journal of Economic Behavior and Organization, 73, pp. 3-15.

2010 "Discovering Economics in the Classroom with Experimental Economics and the Scottish Enlightenment," With T. Jaworski and B. Wilson. International Review of Economics Education, 9 (2), pp. 10-33.

2010 "What would Adam Smith Think?" Journal of Economic Behavior and Organization, 73, pp. 83-86.

2010 "Housing, Depressions and Credit Collapses," Financial Times, January 24, 2010. Available online: http://blogs.ft.com/economistsforum/2010/01/housing-depressions-and-credit-collapses/

2009 "The Design of Water Markets When Instream Flows Have Value," With J. J. Murphy, A. Dindar, R. E. Howitt, and S. J. Rassenti, Journal of Environmental Management, 90 (2), pp. 1089-1096.

2009 "Neuroeconomic Theory of the Decision Process," With J. Dickhaut and A. Rustichini. Proceedings of the National Academy of Sciences, 106 (52).

2009 "Pioneers in Finance: Vernon Smith Interview," With T. Odean and B. Simkins, Journal of Applied Finance (Formerly Financial Practice and Education), 18 (2), 2008. Available at SSRN: http://ssrn.com/abstract=1421990.

2009 "Exchange and Specialization as a Discovery Process," With B. Wilson. The Economic Journal, 119 (539), pp. 1162-1188.

2009 "The Design, Testing and Implementation of Virginia's NOx Allowance Auction," With D. Porter, S. Rassenti, W. Shobe, and A. Winn. Journal of Economic Behavior & Organization, 69 (2), pp. 190-200.

2009 "The ABC Dilemma of Health Reform," Wall Street Journal, October 16, 2009. Available online: http://online.wsj.com/article/SB10001424052748703298004574455303729826362.html?mod=googlenews_wsj

2009 "Governing the Commons," Forbes, October 12, 2009. Available online: http://www.forbes.com/2009/10/12/elinor-ostrom-commons-nobel-economics-opinions-contributors-vernon-l-smith.html

2009 "Monetary Policy, Credit Extension and Housing Bubbles 2008 and 1929," With S. Gjerstad. Critical Review, 21, pp. 260-300.

2009 "Exchange and Specialization as a Discovery Process," with S. Crockett, and B. Wilson. Economic Journal, 119 (539), pp. 1162 - 1188.

2009 "From Bubble to Depression?" With S. Gjerstad. Wall Street Journal, April 6, 2009, pp. A15.

2008 "Don't Let Google Freeze the Airwaves," With T. Hazlett. Wall Street Journal, October 3, 2008, pp. A21.

2008 "When Punishment Fails: Research on Sanctions, Intentions and Non- Cooperation," With D. Houser, E. Xiao, and K. McCabe. Games and Economic Behavior, 62 (2), pp. 509-532.

2008 "Antitrust and Bundled Discounts: an Experimental Analysis," With M. Timothy. Antitrust Law Journal, 75 (2), pp. 399-432.

2008 "Thar She Blows: Can Bubbles Be Rekindled with Experienced Subjects?" With R. Hussam and D. Porter. American Economic Review, 98, pp 924-37.

2008 "The Promise of Prediction Markets," With K. Arrow, R. Forsythe, M. Gorham, R. Hahn, R. Hanson, J. Ledyard, S. Levmore, R. Litan, P. Milgrom, F. Nelson, G. Neumann, M. Ottaviani, T. Schelling, R. Shiller, E. Snowberg, C. Sunstein, P. Tetlock, P. Tetlock, H. Varian, J. Wolfers, E. Zitzewitz. Science, 320, pp. 877-878, May 16.

2008 "Introduction: Experimental Economics and Neuroeconomics," in Neuroeconomics: Decision Making and the Brain. P. Glimcher, C. Camerer, E. Fehr, R. Poldrack. (Eds.) Burlington: Academic Press

2008 "Historical Property Rights, Sociality, and the Emergence of Impersonal Exchange in Long-distance Trade," With E. Kimbrough and B. Wilson. American Economic Review, 98.

2007 "We Have Met the Enemy, and He Is Us," AEI- Brookings, December. Available online at: http://www.aei-brookings.org/policy/page.php?id=305

2007 "Building a Market: From Personal to Impersonal Exchange," With E. Kimbrough and B. Wilson in Free Enterprise: Values in Action, ed. M. Gruter-Cheney, O. Goodenough, and P. Zak. Princeton, NJ: Princeton U Press.

2007 "FCC Spectrum Auction Design: A 12-year Experiment," With D. Porter. Journal of Law Economics and Policy

2007 "Exclusionary Bundling and the Effect of a Competitive Fringe," With A. Caliskan, D. Porter, S. Rassenti, and B. Wilson, Journal of Institutional and Theoretical Economics, 109.

2007 "Sustaining Cooperation in Trust Games" with M. Rigdon and K. McCabe. Economic Journal, 117, pp 991-2007.

2006 "Mechanisms for Addressing Third-Party Impacts Resulting from Voluntary 18 of 34

Water Transfers," With J. J. Murphy, A. Dinar, R. Howitt, E. Mastrangelo, and S. Rassenti in Using Experimental Methods in Environmental and Resource Economics, ed. J. List, Northampton, MA: Edward Elgar.

2006 "FCC Spectrum Auction Design: A 12-year Experiment," With D. Porter. Journal of Law Economics and Policy, 63-80.

2005 "Economics, Market Behavior and the Law," Case Western Reserve Law Review. 55 (1).

2005 "Markets, Capital Markets and Globalization," Lessons from Experience. World Bank

2005 "Hayek and Experimental Economics," Review of Austrian Economics, 18 (2).

2005 "Social Disruption and the Maya Civilization of Mesoamerica: A Study of Health and Economy of the Last Thousand Years," With R. Story and L. M. Morfin. The Backbone of History. R. Steckel and J. Rose eds., Cambridge: Cambridge University Press.

2005 "Power to the People: The Right Way to Deregulate Electricity," The Wall Street Journal, August 12.

2005 "Law and Neuroeconomics," With T. Chorvat and K. McCabe. Supreme Court Economic Review, F. Parisi and D. Polsby eds., University of Chicago Press, Chicago, IL. 13, pp. 35-62.

2005 "Lessons From Neuroeconomics for the Law," With T. Chovrat and K. McCabe. The Law and Economics of Irrational Behavior, F. Parisi and V. Smith eds., Stanford University Press, Stanford, CA, pp. 68-94. Available online at http://www.neuroeconomics.net/pdf/materials/445.pdf

2005 "What Makes Trade Possible?" With E. Hoffman and K. McCabe. The Law and Economics of Irrational Behavior, F. Parisi and V. Smith eds., Stanford University Press, Stanford, CA, pp. 169-185. Available online at http://www.neuroeconomics.net/pdf/materials/446.pdf

2005 "Behavioral Economics Research and the Foundations of Economics," Journal of Socio-Economics, March, 34 (2) pp. 135-150. Available online at http://www.sciencedirect.com

2004 "Buy Me Out," Forbes, September 20. Available online at: http://www.forbes.com/business/forbes/2004/0920/048.html

2004 "Contract Killing," The Wall Street Journal. August.

2004 "Human Nature: An Economic Perspective," Daedalus, Fall: 67-76.

2004 "Oligopoly competition in fixed cost environments,"With Y. Durham, K. McCabe, M. A. Olson, and S. Rassenti. International Journal of Industrial Organization, February, Vol. 22 (2): 147-162. Available online at http://www.neuroeconomics.net/pdf/materials/442.pdf

2004 "Discussion: Cultural Group Selection, Co-Evolutionary Processes and Large-Scale Cooperation (by J. Henrich)," With D. Houser and K. McCabe. Journal of Economic Behavior & Organization, January, Vol. 53 (1): 85-88. Available online at http://www.neuroeconomics.net/pdf/materials/441.pdf

2003 "The Iraqi People's Fund," The Wall Street Journal, December 22. Available online at http://www.benadorassociates.com/article/814.

2003 "Socket to Arnold," with L. Kiesling. The Wall Street Journal. November 10.

2003 "Positive Reciprocity and Intentions in Trust Games," With K. McCabe and M. Rigdon. Journal of Economic Behavior and Organization, October, 52 (2) pp. 267-275. Available online at http://www.neuroeconomics.net/pdf/materials/437.pdf

2003 "Market Design and Motivated Human Trading Behavior in Electricity Markets," with Mark Olson, Stephen Rassenti and Mary Rigdon. Institute of Industrial Engineering Transactions, September, 35 (9) pp. 833-849. Available online at http://taylorandfrancis.metapress.com/app/home/issue.asp

2003 "Combinatorial Auction Design," With D. Porter and S. Rassenti. Proceedings of the National Academy of Sciences, 100 (19) pp. 11153-11157. Available online at http://www.pnas.org/cgi/reprint/100/19/11153

2003 "Demand, Not Supply," With L. Kiesling. Originally published in The Wall Street Journal, August 20. Available online at http://www.rppi.org/demandnotsupply.html.

2003 "Theory, Experiment and the Federal Communications Commission Spectrum Actions," With J. Banks, M. Olson, D. Porter, and S. Rassenti. Journal of Economic Behavior and Organization, 51 pp. 303-350. Available online at www.sciencedirect.com.

2003 "Constructivist and Ecological Rationality in Economics." The American Economic Review, 93 (3) pp. 465-508.

2003 "Controlling market power and price spikes in electricity networks: demand-side bidding," with Stephen J. Rassenti and Bart J. Wilson. Proceedings of the National Academy of Sciences, 100 (5) pp. 2998-3003

2003 "Discriminatory price auctions in electricity markets: low volatility at the expense of high price levels," with Stephen J. Rassenti and Bart J. Wilson. Journal of Regulatory Economics, 23 (2) pp.109-123.

2003 "Strategic Analysis by Players in Games: What Information Do They Use?" With K. McCabe. Trust and Reciprocity: Interdisciplinary Lessons from Empirical Research, E. Ostrom and J. Walker eds., Russell Sage Foundation, pp. 275-301.

2003 "Experimental Methods in Economics." Encyclopedia of Cognitive Science, L. Nadel (ed-in chief), Nature Publishing Group, Macmillan Publishing, New York, pp. 1070-1079. Available online at http://www.neuroeconomics.net/pdf/materials/455.pdf

2002 "Power to the People," The Wall Street Journal, October 16. Available online at http://www.opinionjournal.com/extra/?id=110002540.

2002 "Asset Markets," With G. Caginalp and D. Porter. Journal of Psychology and Financial Markets, 3 (1).

2002 "Do Speculative Stocks Lower Prices and Increase Volatility of Value Stocks?" With G. Caginalp, V. Ilieva and D. Porter. The Journal of Psychology and Financial Markets, 3 (2) pp. 118-132.

2002 "Using Experiments to Inform the Privatization/Deregulation Movement in Electricity," With S. Rassenti and B. J. Wilson. The Cato Journal, Winter, 21 (3) pp. 515-544.

2002 "Method in Experiment: Rhetoric and Reality." Experimental Economics, 5 (2) pp. 91-110.

2002 "Mechanisms for Addressing Third-Party Impacts Resulting From Voluntary Water Transfers," With J. J. Murphy, A. Dinar, R. E. Howitt, E. Mastrangelo, and S. Rassenti. American Agricultural Economics Association Annual Meeting, Long Beach, CA. July 28-31. UMass Dept. of Resource Economics Working Paper 2003-07.

2002 "Using the Machiavellianism Instrument to Predict Trustworthiness in a Bargaining Game," With A. Gunnthorsdottir and K. McCabe. Journal of Economic Psychology, 23(1) pp. 49-66. Available online at www.sciencedirect.com.

2002 "Demand-Side Bidding Will Reduce the Level and Volatility of Electricity Price," The Independent Review, 3.

2002 "Cooperation in Single Play, Two-Person Extensive Form Games Between Anonymously Matched Players," With K. McCabe and M. Rigdon. Experimental Business Research, R. Zwick and A. Rapoport eds., Kluwer Academic Publishers, Boston, pp.49-67.

2002 "Evolutionary Economics," With K. McCabe, Encyclopedia of Evolution, Kristen Hawkes, ed.

2001 "Incremental Commitment and Reciprocity in a Real Time Public Goods Game," With R. Kurzban, K. McCabe, and B. J. Wilson. Personality and Social Psychology Bulletin, 27 (12) pp. 1662- 1673. Available online at http://www.socsci.duke.edu/ssri/papers/kurzban.pdf.

2001 "A Functional Imaging Study of Cooperation in Two-Person Reciprocal Exchange," With D. Houser, K. McCabe, L. Ryan, and T. Trouard. Proceedings of the National Academy of Science, 98 (20) pp. 11832-11835

2001 "Turning Off the Tights," With S. Rassenti and B. J. Wilson. Regulation, 24 (3).

2001 "Spot Market Mechanism Design and Competitively Issues in Electric Power," With M. Denton and S. Rassenti. Proceedings of the 31st Hawaiian International Conference on System Sciences: Restructuring the Electric Power Industry, 1998. Journal of Economic Behavior and Organization, 44 (4) pp. 435-453. Available online at www.sciencedirect.com.

2001 "Financial Bubbles: Excess Cash, Momentum, and Incomplete Information," With G. Caginalp and D. Porter. The Journal of Psychology and Financial Markets, 2 (2) pp. 80-89. Available online at http://www.psychologyandmarkets.org/pdf_files/excess_cash.pdf.

2001 "Market Power in a Deregulated Electrical Industry," With S. Backerman, M. Denton, and S. Rassenti. Journal of Decision Support Systems, 30 (3).

2001 "Goodwill Accounting and the Process of Exchange," With G. Gigerenzer, K. McCabe, and R. Selten eds. Bounded Rationality: The Adaptive Toolbox. Cambridge, MA: MIT Press, pp. 319-340.

2000 "The Design of Smart Water Market Institutions Using Laboratory Experiments," with J. J. Murphy, A. Dinar, R. E. Howitt, and S. J. Rassenti. Environmental and Resource Economics, 17 (4) pp.375-394. Available online at http://www.umass.edu/resec/faculty/murphy/papers/EAREWater.pdf.

2000 "The Role of Spot Prices, Water Storage and Forward Contracts in a 'Smart' Water Market Mechanism," With A. Dinar, R. E. Howitt, J. J. Murphy, and S. J. Rassenti. Presented at the Association for Public Policy Analysis and Management 22nd Annual Research Conference. Seattle, WA. November 2-4. Available online at http://www.umass.edu/resec/faculty/murphy/papers/WaterStorage.pdf

2000 "Efficiency and Income Shares in High Demand Energy Network: Who Receives the Congestion Rents When a Line is Constrained?" with S. Backerman and S. Rassenti, Pacific Economic Review, 5 (3) pp. 331-347.

2000 "Strategic Analysis by Players in Some Games: What Information Do They Use?" With K. McCabe, to appear in Trust and Reciprocity: Interdisciplinary Conceptual and Empirical Lessons, E. Ostrom, ed.

2000 "The Design of 'Smart'Water Market Institutions Using Laboratory Experiments," with A. Dinar, R. E. Howitt, J. J. Murphy and S. J. Rassenti, Environmental and Resource Economics, 17 pp. 375-394.

2000 "Dividend Timing and Behavior in Laboratory Asset Markets," with M. Van Boening and C. Wellford, Economic Theory, 16 (3) pp. 567-583.

2000 "Theory-of-Mind Mechanism in Personal Exchange," with Georgio Coricelli and Kevin McCabe, Proceedings 13th Annual Toyota Conference on Affective Minds, Chapter 26 in Affective Minds, G. Hatano, N. Okada and H. Tanabe eds. Amsterdam: Elsevier.

2000 "Friend-or-Foe Intentionality Priming in an Extensive Form Trust Game," With T. Burnham and K. McCabe, Journal of Economic Behavior and Organization, September, 93 (1) pp. 57-73.

2000 "Intentionality Detection and "Mindreading": Why Does Game Form Matter?" With K. A. McCabe and M. LePore, Proceedings of the National Academy of Sciences, . 97 (8) pp. 4404-4409.

2000 "A Comparison of Naïve and Sophisticated Subject Behavior with Game Theoretic Predictions," with K. A. McCabe, Proceedings of the National Academy of Sciences, 97 (7): 3777-3781.

2000 "Overreactions, Momentum, Liquidity, and Price Bubbles in Laboratory and Field Asset Markets," With G. Caginalp and D. Porter. Journal of Psychology and Financial Markets, March, 1 (1).

2000 "Concurrent Trading in Two Experimental Markets with Demand Interdependence," With A. Williams, J. Ledyard and S. Gjerstad, Economic Theory, 16 (3) pp. 511-528.

2000 "The Impact of Exchange Context on the Activation of Equity in Ultimatum Games," with E. Hoffman and K. McCabe, Experimental Economics, 3 (1) pp. 5-9.

2000 "Momentum and Overreaction in Experimental Asset Markets," With G. Caginalp and D. Porter, International Journal of Industrial Organization, 18 pp. 187-204.

2000 "Adaptation and Convergence of Behavior in Repeated Experimental Cournot Games," With S. Rassenti, S. Reynolds and F. Szidarovszky, Journal of Economic Behavior and Organization, 41 pp. 117-146.

2000 "Structural Features that Contribute to Market Power in Electric Power Networks: Some Preliminary Results," With S. Rassenti and B. J.Wilson. Proceedings of the 33rd Hawaii International Conference on Systems Sciences. Received best paper nomination.

1999 "Privatized Federal Land Would Yield Better Environmental Quality," with T. Anderson and E. Simmons, Policy Analysis Cato Institute Report #363, December.

1999 "Human Action After Fifty Years," Cato Journal, 19 (2).

1999 "Turning on the Lights: Deregulating the Market for Electricity," With S. Rassenti, National Center for Policy Analysis Report #228, October.

1999 "Designing Auction Institutions for Exchange," with K. McCabe and S. Rassenti, IIE Transactions, 31 (9) pp. 803-811.

1999 "Social Distance and Other-Regarding Behavior in Dictator Games: Reply," With E. Hoffman and K. McCabe, American Economic Review, 89 (1) pp. 340-341.

1999 "Experimental Asset Markets," With G. Caginalp and D. Porter, in P. Earl and S. Kemp (eds.), The Elgar Companion to Consumer Research and Economic Psychology. Cheltenham, UK: Elgar.

1999 "Market Design and Motivated Human Trading Behavior in Electricity Markets," With M. Olson, S. Rassenti, and M. Rigdon. Proceedings of the 32nd International Conference on Systems Sciences.

1999 "Who Do You Trust?" With K. McCabe, Boston Review, December/ January.

1998 "Experimental Economics," in D. Jacobs, E. Kalai and M. Kamien (eds.), Frontiers of Research in Economic Theory. Cambridge: Cambridge University Press.

1998 "Numerical Computation of Equilibrium Bid Functions in a First Price Auction with Heterogeneous Risk Attitudes,"With S. J. Rassenti and M. V. Van Boening, Experimental Economics, 1 pp. 147-159.

1998 "Do the Richer Get Richer and the Poor Poorer? Experimental Tests of a Model of Power," With Y. Durham and J. Hirshleifer, American Economic Review, September, pp. 970-983.

1998 "Deregulating Electric Power: Market Design Issues and Experiments," with Stephen Rassenti, Designing Competitive Electricity Markets, H. Chao and Huntington, eds., Boston, MA: Kluwer Academic Publishers.

1998 "Reciprocity, Trust and Payoff Privacy in Extensive Form Bargaining," With K. McCabe and S. Rassenti, Games and Economic Behavior, 24 pp. 10-24.

1998 "Development of Water Markets Using Experimental Economics," With A. Dinar, R. Howitt and S. Rassenti, Markets for Water Potential and Performance, K. W. Easter, M. Rosegrant and A. Dinar, eds., Boston, MA: Kluwer.

1998 "The Two Faces of Adam Smith," Southern Economic Association Distinguished Guest Lecture. Southern Economic Journal, 65 (1) pp. 1-19.

1998 "How Might Future Water Markets Look? The Use of Experimental Economics to Design Markets for Water," With A. Dinar, R. E. Howitt, J. J. Murphy, and S. J. Rassenti. Presented at the World Congress of Resource and Environmental Economists, Venice, Italy, June 25-27.

1998 "The Development of Computer-Assisted Water Markets: Using Experimental Economics to Address Complex Resource Allocation Issues," With A. Dinar, R. E. Howitt, J. J. Murphy, and S. J. Rassenti. Presented at the Human Dimensions of Global Climate Change Initiative meetings, Pittsburgh, PA, April 9-10.

1998 "Behavioral Foundations of Reciprocity: Experimental Economics and Evolutionary Psychology," With E. Hoffman and K. McCabe, Economic Inquiry, 36(3) pp. 335-352.

1998 "The Law of Unintended Consequences in the Experimental Laboratory," National Conference on Innovative Applications of the Laffer Curve Papers and Proceedings, Hartford, CT: Association of Private Enterprise Education.

1998 "Initial Cash/Stock Ratio and Stock Prices: An Experimental Study," with G. Caginalp and D. Porter, Proceedings of the National Academy of Sciences, January, 95 (2) pp. 756-761.

1998 "Economy, Ecology and Institutions in the Emergence of Humankind," in The Other Side of the Frontier: Economic Explorations into Native American History, L. Barrington ed., Boulder, CO: Westview Press.

1998 "The Winner's Curse and Public Information in Common Value Auctions: Comment," with J. Cox and S. Dinkin American Economics Review.

1998 "Property Rights as a Natural Order: Reciprocity, Evolutionary and Experimental Considerations," in Who Owns the Environment? P. J. Hill and R. Meiners, eds., Lanham, MD: Rowman & Littlefield Publishers, Inc.

1998 "Experimental Law and Economics," with Elizabeth Hoffman and Kevin McCabe, to appear The New Palgrave Dictionary of Economics and Law, P. Newman ed.,

1997 "Reciprocity: The Behavioral Foundations of Socio-Economic Games," With E. Hoffman and K. McCabe, in Understanding Strategic Interaction - Essays in Honore of Reinhard Selten, W. Albers, W. Guth, P. Hammerstein, B. Moldovanu, and E. Van Dame, eds., Springer-Verlag, pp. 328-344.

1997 "Experimental Price Bubbles," in Business Cycles and Depressions, D. Glasner, ed., New York: Garland Publishing.

1996 "Puzzle Solving: Reciprocity, Reasoning and Behavior" in Exploring the Foundations of Economics: How Should Economists Do Economics? S. Medema and W. Samuels eds., Hampshire, UK: Edward Elgar.

1996 "Game Theory and Reciprocity in Some Extensive Form Experimental Games," with Kevin McCabe and Stephen Rassenti, Proceedings National Academy of Science, 93 pp. 13421-13428.

1996 "An Experimental Examination of the Walrasian Tatonnement Mechanism,"With C. Bronfman, K. McCabe, D. Porter and S. Rassenti, Rand Journal of Economics, 27 pp. 681-699.

1996 "Can Core Allocations Be Achieved in Avoidable Fixed Cost Environments Using Two-Part Pricing Competition," With Y. Durham, S. Rassenti, M. Van Boening and N. Wilcox, August 1995, Annals of Operations Research, Special Issue on Computational Economics, edited by S. Thore and G. Thompson.

1996 "Experimental Tests of the Endowment Effect," With R. Franciosi, P. Kujal, R. Michelitsch and G. Deng), Journal of Economic Behavior and Organization, 30 pp. 213-227.

1996 "On Expectations and Monetary Stakes in Ultimatum Games," With E. Hoffman and K. McCabe, International Journal of Game Theory, 25 (3) pp. 289-301.

1996 "Social Distance and Other Regarding Behavior in Dictator Games," With E. Hoffman and K. McCabe, American Economic Review, June, pp. 653-660.

1996 "Regulatory Reform in the Electric Power Industry," Regulation, 1 pp. 33-46.

1995 "Ultimatum and Dictator Games," With E. Hoffman and K. McCabe, Journal of Economic Perspectives, 9 pp. 236-239.

1995 "Futures Contracting and Dividend Uncertainty in Experimental Asset Markets," With D. Porter, Journal of Business, 68 (4) pp. 509-541.

1995 "Price Expectations in Asset Markets with Futures Contracting," With D. Porter. Journal of Business, October.

1995 "Fairness: Effect on Temporary and Equilibrium Prices in Posted Offer Markets," With R. Franciosi, P. Kujal, R. Michelitsch and G. Deng, Economic Journal, 105 (431) pp. 938-950.

1994 "Stock Market Bubbles in the Laboratory," With D. Porter, Applied Mathematical Finance, 1 pp. 111-127.

1994 "Experimental Design of Computer Coordinated Markets for Network Industries," with Y. Durham and S. Rassenti, in Many Agent Simulation and Artificial Life, (edited by E. Hillebrand and J. Stender), IOS Press, pp. 149-168.

1994 "Designing a Real Time Computer Assisted Auction for Natural Gas Networks," with K. McCabe and S. Rassenti, in New Directions in Computational Economics (edited by W. Cooper and A. Whinston), Kluwer Academic Publishers, pp. 41-54.

1994 "Economics in the Laboratory," Journal of Economic Perspectives, Winter, 8 (1) pp. 113-131.

1994 "Preferences, Property Rights and Anonymity in Bargaining Games," With E. Hoffman, K. McCabe and K. Shachat, Games and Economic Behavior, 7 pp. 346-380.

1994 "Institutional Design for Electronic Trading," with Kevin McCabe and Stephen Rassenti, in Structure and Integration in Securities Markets, (edited by R. Schwartz and Ingo Walter), Irwin Business One.

1994 "Bertrand-Edgeworth Competition in Experimental Markets," with Jamie Brown-Kruse, Stephen Rassenti and Stanley S. Reynolds, Econometrica, March, Vol. 62 (2): 343-371.

1994 "Cotenancy and Competition in an Experimental Auction Market for Natural Gas Pipeline Networks," with Stephen J. Rassenti and Stanley S. Reynolds. Economic Theory, Vol. 4: 41-65.

1993 "On the Failure to Induce Meager Offers in Ultimatum Games," with Eythan Weg, Journal of Economic Psychology, Vol. 14: 7 -32.

1993 "Experimental Methods in Economics." Inaugural lecture at the Laboratori d'Economia Experimental (LeeX), Universitat Pompeu Fabra, Special Issue, June 1992, Barcelona, Spain. Printed as "Métodes experimentales en economia y en politica económica," Cuadernos Económicos deICE, 54, pp. 11-50.

1993 "Rewards, Experience and Decision Costs in First Price Auctions," with James Walker, Economic Inquiry, April, pp. 237-244.

1993 "Monetary Rewards and Decision Cost in Experimental Economics," with James Walker, Economic Inquiry, April, pp. 245-261. Western Economic Association, Best Article Award.

1993 "Can Electric Power -- A Natural Monopoly -- Be Deregulated?" Colorado School of Mines, in Making National Energy Policy, H. H. Landsberg, ed., Washington, DC: Resources for the Future.

1993 "Humankind in Prehistory: Economy, Ecology and Institutions," The Political Economy of Customs and Culture , T. Anderson and R. Simmons, eds., Rowman and Littlefield Press, pp. 157-184.

1993 "Designing a Uniform Price Double Auction: An Experimental Evaluation," With K. McCabe and S. Rassenti in D. Friedman and J. Rust, eds., The Double Auction Market: Institutions, Theories and Evidence. Reading: Addison-Wesley/SFI, pp. 307-332.

1993 "The Robustness of Bubbles and Crashes in Experimental Stock Markets," With R. R. King, A.W.Williams and M. Van Boening, in Non Linear Dynamics and Evolutionary Economics, R. Day and P. Chen, eds. Oxford: Oxford Press, pp. 183-200.

1992 "Designing Call Auction Institutions: Is Double Dutch the Best?" With K A. McCabe and S. J. Rassenti, Economic Journal, January, 102 pp. 9-23.

1991 "Testing Vickrey's and Other Simultaneous Multiple Unit Versions of the English Auction," With K.A. McCabe and S. J. Rassenti. Research in Experimental Economics, Vol. 4, R. M. Isaac, ed.

1991 "Smart Computer-Assisted Markets," with Kevin McCabe and Stephen Rassenti, Science, 254 pp. 534-538.

1991 "Off-Floor Trading, Disintegration and the Bid-Ask Spread in Experimental Markets," With J. Campbell, S. La Master and M. Van Boening, Journal of Business, October.

1991 "Rational Choice: The Contrast Between Economics and Psychology." Journal of Political Economy, August.

1991 "Experimental Research on Deregulated Markets for Natural Gas Pipeline and Electric Power Transmission Networks," with K. McCabe and S. Rassenti, Research in Law and Economics, 13, pp. 161-189.

1991 "Lakatos and Experimental Economics," With K. A. McCabe and S. J. Rassenti. Appraising Economic Theories (edited by Neil de Marchi and Mark Blaug) London: Edward Elgar.

1990 "Man as an Ecological Factor within Nature," The Yellowstone Primer, J. Baden and D. Leal eds., San Francisco: Pacific Research Institute for Public Policy.

1990 "Auction Design for Composite Goods: The Natural Gas Industry," With K. A. McCabe and S. J. Rassenti, Journal of Economic Behavior and Organization, September, 14.

1990 "Inducing Risk Neutral Preferences: An Examination in a Controlled Market Environment," With J C. Cox and J. M. Walker. Journal of Risk and Uncertainty, Vol. 3: 5-24

1990 "Experimental Economics: Behavioral Lessons for Microeconomic Theory and Policy," Nancy L. Schwartz Memorial Lecture. Evanston: J.L. Kellogg Graduate School of Management, Northwestern University.

1990 "The Boundaries of Competitive Price Theory: Expectations, Convergence and Transaction Cost," with A. Williams. Advances in Behavioral Economics.

1990 "Auction Institutional Design: Theory and Behavior of Simultaneous Multiple Unit Generalizations of the Dutch and English Auctions," With K. A. McCabe and S. J. Rassenti. American Economic Review, December.

1989 "Market, Competition, and Efficiency in Natural Gas Pipeline Networks," With K. McCabe, S. Rassenti and S. Reynolds. Natural Gas, October.

1989 "Designing 'Smart' Computer Assisted Markets: An Experimental Auction for Gas Networks," With K.A. McCabe and S. J. Rassenti. European Journal of Political Economy, Vol. 5: 259-283.

1989 "Theory, Experiment and Economics," Journal of Economic Perspectives, Winter.

1989 "Electric Power Deregulation: Background and Prospects," Contemporary Policy Issues, Vol. 6, July 1988. Reprinted as "La Deregulation Dell'Industria Electrica Negli Stati Uniti Situazione E Prospettive," Energia, September.

1989/88"New Directions in Economics," Journal of Business Administration, Vol. 18, Nos. 1 and 2.

1988 "Bubbles, Crashes and Endogenous Expectations in Experimental Spot Asset Markets," With G. Suchanek and A. Williams. Econometrica, September.

1988 "Theory and Individual Behavior in First Price Auctions," With J. Cox and J. Walker. Journal of Risk and Uncertainty, April, Vol.1.

1987 "Experimental Economics and Auditing," With J. Schatzberg and W. S. Waller Auditing: A Journal of Practice and Theory, Fall.

1987 "Uncertainty and Partial Adjustment in Double Auction Markets," With S. Buccola. Journal of Economic Behavior and Organization, 8 pp. 587-601.

1987 "Bidding Behavior in First Price Auctions: Use of Computerized Nash Competitors," With J. Cox and J. Walker. Economic Letters, Vol.23: 239-244.

1987 "Least-Cost Energy Planning: Past, Present and Future," Keynote Address for a Symposium on Least-Cost Energy Planning in the Midwest, February 10-11.

1987 "Currents of Competition in Electricity Markets," Regulation, Number 2.

1987 "Hypothetical Valuations and Preference Reversals in the Context of Asset Trading," With Mark Knez in A. Roth, ed., Laboratory Experiments in Economics - Six Points of View, Cambridge University Press.

1987 "Hunting and Gathering Economies," The New Palgrave: A Dictionary of Economic Theory and Doctrine, J. Eatwell, M. Milgate and P. Newman eds., Macmillan Press, Inc., October.

1987 "Auctions," The New Palgrave: A Dictionary of Economic Theory and Doctrine, J. Eatwell, M. Milgate and P. Newman eds., Macmillan Press, Inc., October.

1987 "Experimental Methods in Economics," The New Palgrave: A Dictionary of Economic Theory and Doctrine, J. Eatwell, M. Milgate and P. Newman eds., Macmillan Press, Inc., October.

1986 "Experimental Methods in the Political Economy of Exchange," Science, October 10.

1986 "Electric Utility Deregulation," with Stephen Rassenti in Pricing Electric, Gas and Telecommunication Services, The Institute for the Study of Regulation, December.

1985 "Experimental Development of Sealed-Bid Auction Theory; Calibrating Controls for Risk Aversion," with J. Cox and J. Walker. American Economic Review, May.

1985 "Individual Rationality, Market Rationality, and Value Estimation," With P. Knez and A.Williams. American Economic Review, May.

1985 "In Search of Predatory Pricing," With R. M. Isaac. Journal of Political Economy, April.30 of 34

1985 "Experimental Economics," (Reply to R. Heiner), American Economic Review, March.

1985 "Expected Revenue in Discriminative and Uniform Price Sealed-Bid Auctions," with J. Cox and J.Walker. Research in Experimental Economics, C. Plott, ed., JAI Press, Volume 3.

1984 "Theory and Behavior of Multiple Unit Discriminative Auctions," With J. Cox and J. Walker. Journal of Finance, September.

1984 "Experimental Tests of an Allocation Mechanism for Private, Public or Externality Goods," Scandinavian Journal of Economics, 86 (4).

1984 "Property Rights - From Ancient Origins and Spontaneous Invention to Conscious Design?" Progress in Natural Resource Economics, A. Scott, ed., Oxford University Press.

1984 "A Comparison of Posted Offer and Double Auction Pricing Institutions," With J. Ketcham and A. Williams. Review of Economic Studies.

1984 "Market Contestability in the Present of Sunk Costs," With D. Coursey, M. Isaac and M. Luke. Rand Journal of Economics, Spring.

1984 "Natural Monopoly and the Contestable Markets Hypothesis: Some Preliminary Results from Laboratory Experiments," With D. Coursey and M. Isaac. Journal of Law and Economics, April.

1984 "An Experimental Study of Speculation in Cyclical Markets," With A. Williams. Journal of Business, January.

1983 "Tests of a Heterogeneous Bidders Theory of First Price Auctions," With J. Cox and J.Walker. Economic Letters.

1983 "OCS Leasing and Auctions: Incentives and the Performance of Alternative Bidding Institutions," With J. Cox and M. Isaac. Supreme Court Economic Review.

1983 "A Test that Discriminates Between Two Models of the Dutch-First Auction Nonisomorphism," Journal of Economic Behavior and Organization, With J. Cox and J.Walker.

1983 "Price Control in Posted-Offer Markets," with D. Coursey. American Economic Review, March.

1982 "On Divestiture and the Creation of Property Rights in Public Lands," The Cato Journal, Winter.

1982 "Microeconomic Systems as an Experimental Science," American Economic Review, December.

1982 "Effect of Rent Asymmetries in Experimental Auction Markets," With A. Williams. Journal of Economic Behavior and Organization, September.

1982 "A Combinatorial Auction Mechanism for Airport Time Slot Allocation," With S. Rassenti and R. Bulfin. Bell Journal of Economics, Autumn.

1982 "Auction Market Theory of Heterogeneous Bidders," With J. Cox and J.Walker. Economic Letters, Vol. 9.

1982 "Markets as Economizers of Information: Experimental Examination of the 'Hayek Hypothesis,'" Economic Inquiry, April. Western Economic Association, Best Article Award.

1982 "Competitive Market Institutions: Double Auctions versus Sealed Bid Offer Auctions," With A. Williams, K. Bratton and M. Vannoni. American Economic Review, March.

1982 "Reflections on Some Experimental Market Mechanisms for Classical Environments," Proceedings Conference on Choice Theory, L. McAlister, ed., Greenwich: JAI Press.

1982 "Theory and Behavior of Single Object Auctions," With J. Cox and B. Roberson. Research in Experimental Economics, General Editor V. Smith. D. Grether, ed., Greenwich: JAI Press, Vol. 2.

1982 "An Experimental Comparison of Alternative Rules for Competitive Market Exchange," with A. Williams. Auctioning and Bidding, M. Shubik, ed., New York: New York University Press.

1981 "Theory, Experiment and Antitrust Policy," in Strategy, Predation, and Antitrust Analysis, FTC, S. Salop, ed.

1981 "On Nonbinding Price Controls in a Competitive Market," With A. Williams. American Economics Review, June.

1981 "Experimental Economics at Purdue," Economic Essays in Honor of E.T. Weiler, eds., George Horwich and James P. Quirk.

1981 "An Empirical Study of Decentralized Institutions of Monopoly Restraint," Economic Essays in Honor of E.R. Weiler, Editors George Horwich and James P. Quirk, (Purdue University Press).

1980 "Experiments With a Decentralized Mechanism for Public Good Decision," American Economic Review, September.

1980 "Incentives and Behavior in English, Dutch, and Sealed-Bid Auctions," with V. Coppinger and J. Titus. Conference on Cognition Choice and Behavior, NBER, Stanford, Oct. 27-28, 1977, revised February 1978, Economic Inquiry, January. Western Economic Association, Best Article Award, 1980.

1980 "Relevance of Laboratory Experiments to Testing Resource Allocation Theory," Evaluation of Econometric Models, J. Kmenta and J.B. Ramsey, eds., New York: Academic Press.

1979 "Further Comments on the Application of Laboratory Experimental Methods to Political Choice," with C. Plott. Collective Decision Making, C.S. Russell, ed., Baltimore: Johns Hopkins Press, pp. 167-169.

1979 "An Experimental Comparison of Three Public Good Decision Mechanisms," Symposium Volume of The Scandinavian Journal of Economics, Reprinted in Measurement and Public Choice, S. Strom, ed.

1979 "Incentive Compatible Experimental Processes for the Provision of Public Goods," Research in Experimental Economics, JAI Press.

1978 "Economics, Psychology and Protective Behavior: Discussion," American Economic Review, Papers and Proceedings, May.

1978 "Experimental Mechanisms for Public Choice," in P. Ordeshook, ed., Game Theory and Political Science, New York: New York University Press.

1978 "An Experimental Examination of Two Exchange Institutions," With C. Plott. Review of Economic Studies, February.

1977 "The Principle of Unanimity and Voluntary Consent in Social Choice," Journal of Political Economy, December.

1977 "Mechanisms for the Optimal Provision of Public Goods," in American Re-evolution Papers and Proceedings, R. Auster, ed., Tucson: Department of Economics.

1977 "Control Theory Applied to Natural and Environmental Resources: An Exposition," Journal of Environmental Economics and Management.

1977 "Intertemporal Competitive Equilibrium: An Empirical Study of Speculation," With R. Miller and C. Plott. Quarterly Journal of Economics, November.

1977 "Water Deeds: A Proposed Solution to the Water Valuation Problem," Arizona Review, January.

1977 "Littering, Derelicts, and the Pricing System," Chapter 22 in Economics of Natural and Environmental Resources, by V.L. Smith, ed., New York: Gordon and Breach.

1976 "Bidding and Auctioning Institutions: Experimental Results," in Y. Amihud, ed., Bidding and Auctioning for Procurement and Allocation, New York: New York University, 43-64.

1976 "Economics of Wilderness Resources," Intermountain Economic Review, Fall.

1976 "Experimental Economics: Induced Value Theory," American Economic Review, May.

1975 "Economics of the Primitive Hunter Culture with Applications to Pleistocene Extinction and the Rise of Agriculture," Journal of Political Economy, July/August.

1975 "General Equilibrium with a Replenishable Resource," Review of Economic Studies, Symposium Volume, April.

1975 Review of "Essays in the Theory of Risk Bearing,"With K. Arrow, Journal of Business, January.

1974 "Optimal Costly Firm Entry in General Equilibrium," Journal of Economic Theory, December.

1974 "An Optimistic Theory of Exhaustible Resources," Journal of Economic Theory, December.

1974 "Economic Theory and its Discontents," American Economic Review, May.

1972 "Dynamics of Waste Accumulation: Disposal versus Recycling," Quarterly Journal of Economics, November.

1972 "The Theory of Credit Rationing--Some Generalizations," American Economic Review, June.

1972 "Default Risk, Scale and the Homemade Leverage Theorem," American Economic Review, March.

1972 "On Models of Commercial Fishing: The Traditional Literature Needs No Defenders," Journal of Political Economy, July/August.

1971 "Economic Theory of Wager Markets," Western Economic Journal, September.

1971 "Economics of Production from Natural Resources: A Reply," American Economic Review, June.

1971 "The Borrower-Lender Contact Under Uncertainty," Western Economic Journal, March.

1971 "Investment Decision, Uncertainty and the Incorporated Firm," A. Zarley, ed., Papers in Quantitative Economics 2, University of Kansas Press.

1970 "Corporate Financial Theory Under Uncertainty," Quarterly Journal of Economics, August.

1970 "Dynamic Economic Models of Fishing," with J. Quirk. Economic of Fisheries Management, H.R. Macmillan Lectures in Fisheries, A.D. Scott, ed., Vancouver: University of British Columbia.

1970 "Investment Behavior: Discussion," Proceedings of the American Economic Association, May, 1970.

1969 "On Models of Commercial Fishing," Journal of Political Economy, March/April.

1969 "Measuring Non-Monetary Utilities," Quarterly Journal of Economics, May.

1969 "Taxes and Share Valuation in Competitive Markets," Review of Economics and Statistics, February.

1968 Review of R. Cassady, "Auctions and Auctioneering," American Economic Review, September.

1968 "Economics of Production from Natural Resources," American Economic Review, June.

1968 "Optimal Insurance Coverage," Journal of Political Economy, February.

1968 "The Theory of Production," International Encyclopedia of the Social Sciences.

1967 "Experimental Studies of Discrimination versus Competition in Sealed Bid Auction Markets," Journal of Business, January.

1966 Review of F. Christy and A. Scott, "The Common Wealth in Ocean Fisheries," American Economic Review, December.

1966 "Bidding Theory and the Treasury Bill Auction: Does Price Discrimination Increase Bill Prices?" Review of Economics and Statistics, May.

1965 "Economic Joint Cost Theory and Accounting Practice," with R. Manes. The Accounting Review, January.

1965 Comment on M. Peck and J. Meyer, "The Determination of a Fair Return on Investment for Regulated Industries," Transportation Economics, National Bureau of Economic Research, New York: Columbia University Press.

1965 "Experimental Auction Markets and the Walrasian Hypothesis," Journal of Political Economy, August.

1964 Review of A. Manne, H. Markowitz, "Studies in Process Analysis," Journal of the American Statistical Association, June.

1964 "The Measurement of Capital," in Measuring the Nation's Wealth. Prepared by the Wealth Inventory Planning Study, and published for the Subcommittee on Economic Statistics of the Joint Economic Committee, Congress of the United States, December. Also published by National Bureau of Economic Research, 1965.

1964 "Nature, the Experimental Laboratory, and the Credibility of Hypotheses," with D. Ric. Behavioral Science, July.

1964 "Effect of Market Organization on Competitive Equilibrium," Quarterly Journal of Economics, May.

1964 Review of R.F. Lundy, "The Economics of Loyalty-Incentives Rates in the Railroad Industry," Washington State University Press, 1963 in American Economic Review.

1963 "Depreciation, Market Valuations, and Investment Theory," Management Science, July.

1963 "Tax Depreciation Policy and Investment Theory," International Economic Review, January.

1963 "Minimization of Economic Rent in Spatial Price Equilibrium," Review of Economic Studies, Vol. XXX (1).

1962 "Models of Production and Investment: A Reply," International Economic Review, September.

1962 "The Theory of Capital," American Economic Review, June.

1962 "An Experimental Study of Competitive Market Behavior," Journal of Political Economy, April.

1961 "Time Preference and Risk in Investment Theory," Proceedings of the American Economic Association, May.

1960 "Problems in Production-Investment Planning Over Time," International Economic Review, September.

1959 "Allocation of a Scarce Resource to Alternative Probabilistic Demands: Transport Equipment Pool Assignments," With R. Saposnik. Naval Research Logistics Quarterly, September.

1959 "The Theory of Investment and Production," Quarterly Journal of Economics, February.

1958 "An Economic Analysis of Contributions under the Income Tax Laws," with F. Gillis, Journal of Political Economy, October.

1958 "An Econometric Study of Aircraft Malfunction Behavior," P-1424, The RAND Corporation, August 14.

1957 "Economic Equipment Policies: An Evaluation," Management Science, October.

1957 "On the Use of Engineering Data and Statistical Techniques in the Analysis of Production and Technological Change; Fuel Requirements in the Trucking Industry," Econometrica, April.

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Name: Vernon Lomax Smith
Birth: 1 January 1927, Wichita, KS, USA
Institution: George Mason University, Fairfax, VA, USA
Award: for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms.
Subject: economic psychology, experimental economics
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