Details about Vernon L. Smith

E-mail:
Homepage:	http://www.chapman.edu/ESI/people/smith.asp
Phone:	714-628-2830
Postal address:	Chapman University One University Dr. Orange, CA 92866
Workplace:	A. Gary Anderson Center for Economic Research (ACER), Argyros School of Business and Economics, Chapman University, (more information at EDIRC)

Access statistics for papers by Vernon L. Smith.

Last updated 2009-09-15. Update your information in the RePEc Author Service.

Short-id: psm95

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Working Papers

2003

1. Autobiography
   Nobel Prize in Economics documents, Nobel Prize Committee
2. FAIRNESS AND SHORT RUN PRICE ADJUSTMENT IN POSTED OFFER MARKETS
   Economics Working Papers, Universidad Carlos III, Departamento de Economía View citations
   See also Chapter (2008)
3. THE ENDOWMENT EFFECT
   Economics Working Papers, Universidad Carlos III, Departamento de Economía View citations
   See also Chapter (2008)

2002

4. Constructivist and Ecological Rationality in Economics
   Nobel Prize in Economics documents, Nobel Prize Committee
   See also Journal Article in American Economic Review (2003)
5. Interview with the 2002 Laureates in Economics, Daniel Kahneman and Vernon L. Smith
   Nobel Prize in Economics documents, Nobel Prize Committee

1997

6. Do the Richer get Richer and the Poor Poorer? Experimental Tests of a Model of Power
   UCLA Economics Working Papers, UCLA Department of Economics
   See also Journal Article in American Economic Review (1998)

1975

7. Economics of Wilderness Resources
   Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
8. Experimental Economics: Theory and Results
   Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

1974

9. Recycling and Exhaustive Resources
   Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

Undated

10. An Experimental Examination of Two Exchange Institutions
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences View citations
    See also Journal Article in Review of Economic Studies (1978)
11. An Optimistic Theory of Exhaustible Resources
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
    See also Journal Article in Journal of Economic Theory (1974)
12. Bidding and Auctioning Institutions: Experimental Results
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
13. Economics of the Primitive Hunter Culture with Applications to Pleistocene Extinction and the Rise of Agriculture
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
14. Intertemporal Competitive Equilibrium: An Empirical Study of Speculation
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
    See also Journal Article in The Quarterly Journal of Economics (1977)
15. Optimal Costly Firm Entry in General Equilibrium
    Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences
    See also Journal Article in Journal of Economic Theory (1974)

Journal Articles

2008

1. Historical Property Rights, Sociality, and the Emergence of Impersonal Exchange in Long-Distance Trade
   American Economic Review, 2008, 98, (3), 1009-39
2. Thar She Blows: Can Bubbles Be Rekindled with Experienced Subjects?
   American Economic Review, 2008, 98, (3), 924-37

2007

3. Exclusionary Bundling and the Effects of a Competitive Fringe
   Journal of Institutional and Theoretical Economics (JITE), 2007, 163, (1), 109-132
4. Sustaining Cooperation in Trust Games
   Economic Journal, 2007, 117, (522), 991-1007 View citations

2005

5. Behavioral economics research and the foundations of economics
   The Journal of Socio-Economics, 2005, 34, (2), 135-150 View citations

2003

6. Constructivist and Ecological Rationality in Economics
   American Economic Review, 2003, 93, (3), 465-508 View citations
   See also Working Paper (2002)
7. Discriminatory Price Auctions in Electricity Markets: Low Volatility at the Expense of High Price Levels
   Journal of Regulatory Economics, 2003, 23, (2), 109-23 View citations
8. Positive reciprocity and intentions in trust games
   Journal of Economic Behavior & Organization, 2003, 52, (2), 267-275 View citations

2001

9. Spot market mechanism design and competitivity issues in electric power
   Journal of Economic Behavior & Organization, 2001, 44, (4), 435-453 View citations

2000

10. Adaptation and convergence of behavior in repeated experimental Cournot games
    Journal of Economic Behavior & Organization, 2000, 41, (2), 117-146 View citations
11. Friend-or-foe intentionality priming in an extensive form trust game
    Journal of Economic Behavior & Organization, 2000, 43, (1), 57-73 View citations
12. symposium articles: Concurrent trading in two experimental markets with demand interdependence
    Economic Theory, 2000, 16, (3), 511-528
13. symposium articles: Dividend timing and behavior in laboratory asset markets
    Economic Theory, 2000, 16, (3), 567-583

1999

14. Social Distance and Other-Regarding Behavior in Dictator Games: Reply
    American Economic Review, 1999, 89, (1), 340-341 View citations
15. The Winner's Curse and Public Information in Common Value Auctions: Comment
    American Economic Review, 1999, 89, (1), 319-324 View citations

1998

16. Behavioral Foundations of Reciprocity: Experimental Economics and Evolutionary Psychology
    Economic Inquiry, 1998, 36, (3), 335-52 View citations
17. Do the Rich Get Richer and the Poor Poorer? Experimental Tests of a Model of Power
    American Economic Review, 1998, 88, (4), 970-83 View citations
    See also Working Paper (1997)
18. Reciprocity, Trust, and Payoff Privacy in Extensive Form Bargaining
    Games and Economic Behavior, 1998, 24, (1-2), 10-24 View citations
19. The Two Faces of Adam Smith
    Southern Economic Journal, 1998, 65, (1), 2-19 View citations

1996

20. On Expectations and the Monetary Stakes in Ultimatum Games
    International Journal of Game Theory, 1996, 25, (3), 289-301 View citations
21. Social Distance and Other-Regarding Behavior in Dictator Games
    American Economic Review, 1996, 86, (3), 653-60 View citations

1995

22. Futures Contracting and Dividend Uncertainty in Experimental Asset Markets
    Journal of Business, 1995, 68, (4), 509-41 View citations

1994

23. Cotenancy and Competition in an Experimental Auction Market for Natural Gas Pipeline Networks
    Economic Theory, 1994, 4, (1), 41-65 View citations
24. Economics in the Laboratory
    Journal of Economic Perspectives, 1994, 8, (1), 113-31 View citations

1993

25. Monetary Rewards and Decision Cost in Experimental Economics
    Economic Inquiry, 1993, 31, (2), 245-61 View citations
26. Rewards, Experience and Decision Costs in First Price Auctions
    Economic Inquiry, 1993, 31, (2), 237-45 View citations

1992

27. Designing Call Auction Institutions: Is Double Dutch the Best?
    Economic Journal, 1992, 102, (410), 9-23 View citations
28. Economic Principles in the Emergence of Humankind: Presidential Address to the Western Economic Association, June 30, 1991
    Economic Inquiry, 1992, 30, (1), 1-13
29. Theory and Misbehavior of First-Price Auctions: Comment
    American Economic Review, 1992, 82, (5), 1392-412 View citations

1991

30. Rational Choice: The Contrast between Economics and Psychology
    Journal of Political Economy, 1991, 99, (4), 877-97 View citations

1990

31. Auction Institutional Design: Theory and Behavior of Simultaneous Multiple-Unit Generalizations of the Dutch and English Auctions
    American Economic Review, 1990, 80, (5), 1276-83 View citations
32. Auction design for composite goods: The natural gas industry
    Journal of Economic Behavior & Organization, 1990, 14, (1), 127-149 View citations
33. Inducing Risk-Neutral Preferences: An Examination in a Controlled Market Environment
    Journal of Risk and Uncertainty, 1990, 3, (1), 5-24 View citations

1989

34. Designing `smart' computer-assisted markets: An experimental auction for gas networks
    European Journal of Political Economy, 1989, 5, (2-3), 259-283 View citations
35. Theory, Experiment and Economics
    Journal of Economic Perspectives, 1989, 3, (1), 151-69 View citations

1988

36. Bubbles, Crashes, and Endogenous Expectations in Experimental Spot Asset Markets
    Econometrica, 1988, 56, (5), 1119-51 View citations
37. ELECTRIC POWER DEREGULATION: BACKGROUND AND PROSPECTS
    Contemporary Economic Policy, 1988, 6, (3), 14-24
38. Theory and Individual Behavior of First-Price Auctions
    Journal of Risk and Uncertainty, 1988, 1, (1), 61-99 View citations

1987

39. Bidding behavior in first price sealed bid auctions: Use of computerized Nash competitors
    Economics Letters, 1987, 23, (3), 239-244 View citations
40. Uncertainty and partial adjustment in double-auction markets
    Journal of Economic Behavior & Organization, 1987, 8, (4), 587-601

1985

41. Experimental Development of Sealed-Bid Auction Theory: Calibrating Controls for Risk Aversion
    American Economic Review, 1985, 75, (2), 160-65 View citations
42. Experimental Economics: Reply
    American Economic Review, 1985, 75, (1), 264-72 View citations
43. In Search of Predatory Pricing
    Journal of Political Economy, 1985, 93, (2), 320-45 View citations
44. Individual Rationality, Market Rationality, and Value Estimation
    American Economic Review, 1985, 75, (2), 397-402 View citations

1984

45. A Comparison of Posted-Offer and Double-Auction Pricing Institutions
    Review of Economic Studies, 1984, 51, (4), 595-614 View citations
46. Cyclical Double-Auction Markets with and without Speculators
    Journal of Business, 1984, 57, (1), 1-33 View citations
47. Experimental Tests of an Allocation Mechanism for Private, Public or Externality Goods
    Scandinavian Journal of Economics, 1984, 86, (4), 468-84 View citations
48. Market Contestability in the Presence of Sunk (Entry) Costs
    RAND Journal of Economics, 1984, 15, (1), 69-84 View citations
49. Natural Monopoly and Contested Markets: Some Experimental Results
    Journal of Law & Economics, 1984, 27, (1), 91-113 View citations
50. Theory and Behavior of Multiple Unit Discriminative Auctions
    Journal of Finance, 1984, 39, (4), 983-1010 View citations

1983

51. A test that discriminates between two models of the Dutch-first auction non-isomorphism
    Journal of Economic Behavior & Organization, 1983, 4, (2-3), 205-219 View citations
52. Price Controls in a Posted Offer Market
    American Economic Review, 1983, 73, (1), 218-21 View citations
53. Tests of a heterogeneous bidders theory of first price auctions
    Economics Letters, 1983, 12, (3-4), 207-212 View citations

1982

54. Auction market theory of heterogeneous bidders
    Economics Letters, 1982, 9, (4), 319-325 View citations
55. Competitive Market Institutions: Double Auctions vs. Sealed Bid-Offer Auctions
    American Economic Review, 1982, 72, (1), 58-77 View citations
56. Markets as Economizers of Information: Experimental Examination of the "Hayek Hypothesis"
    Economic Inquiry, 1982, 20, (2), 165-79 View citations
57. Microeconomic Systems as an Experimental Science
    American Economic Review, 1982, 72, (5), 923-55 View citations
58. The effects of rent asymmetries in experimental auction markets
    Journal of Economic Behavior & Organization, 1982, 3, (1), 99-116 View citations

1981

59. On Nonbinding Price Controls in a Competitive Market
    American Economic Review, 1981, 71, (3), 467-74 View citations

1980

60. Experiments with a Decentralized Mechanism for Public Good Decisions
    American Economic Review, 1980, 70, (4), 584-99 View citations
61. Incentives and Behavior in English, Dutch and Sealed-Bid Auctions
    Economic Inquiry, 1980, 18, (1), 1-22 View citations

1979

62. An Experimental Comparison of Three Public Good Decision Mechanisms
    Scandinavian Journal of Economics, 1979, 81, (2), 198-215 View citations

1978

63. An Experimental Examination of Two Exchange Institutions
    Review of Economic Studies, 1978, 45, (1), 133-53 View citations
    See also Working Paper
64. Psychology and Economics: Discussion
    American Economic Review, 1978, 68, (2), 76-77

1977

65. Control theory applied to natural and environmental resources an exposition
    Journal of Environmental Economics and Management, 1977, 4, (1), 1-24 View citations
66. Intertemporal Competitive Equilibrium: An Empirical Study of Speculation
    The Quarterly Journal of Economics, 1977, 91, (4), 599-624 View citations
    See also Working Paper
67. The Principle of Unanimity and Voluntary Consent in Social Choice
    Journal of Political Economy, 1977, 85, (6), 1125-39 View citations

1976

68. Experimental Economics: Induced Value Theory
    American Economic Review, 1976, 66, (2), 274-79 View citations
69. The Borrower-Lender Relationship
    American Economic Review, 1976, 66, (3), 406-07

1975

70. The Primitive Hunter Culture, Pleistocene Extinction, and the Rise of Agriculture
    Journal of Political Economy, 1975, 83, (4), 727-55 View citations

1974

71. An optimistic theory of exhaustible resources
    Journal of Economic Theory, 1974, 9, (4), 384-396 View citations
    See also Working Paper
72. Economic Theory and Its Discontents
    American Economic Review, 1974, 64, (2), 320-22 View citations
73. Optimal costly firm entry in general equilibrium
    Journal of Economic Theory, 1974, 9, (4), 397-417 View citations
    See also Working Paper

1972

74. A Theory and Test of Credit Rationing: Some Generalizations
    American Economic Review, 1972, 62, (3), 477-83
75. Default Risk, Scale, and the Homemade Leverage Theorem
    American Economic Review, 1972, 62, (1), 66-76 View citations
76. Dynamics of Waste Accumulation: Disposal Versus Recycling
    The Quarterly Journal of Economics, 1972, 86, (4), 600-616 View citations
77. On Models of Commercial Fishing: The Traditional Literature Needs No Defenders
    Journal of Political Economy, 1972, 80, (4), 776-78

1971

78. Economics of Production from Natural Resources: Reply
    American Economic Review, 1971, 61, (3), 488-91 View citations

1970

79. Corporate Financial Theory under Uncertainty
    The Quarterly Journal of Economics, 1970, 84, (3), 451-71
80. Investment Behavior: Discussion
    American Economic Review, 1970, 60, (2), 29-30

1969

81. Measuring Nonmonetary Utilities in Uncertain Choices: The Ellsberg Urn
    The Quarterly Journal of Economics, 1969, 83, (2), 324-29 View citations
82. On Models of Commercial Fishing
    Journal of Political Economy, 1969, 77, (2), 181-98 View citations
83. Taxes and Share Valuation in Competitive Markets
    The Review of Economics and Statistics, 1969, 51, (1), 96-99

1965

84. Experimental Auction Markets and the Walrasian Hypothesis
    Journal of Political Economy, 1965, 73, 387 View citations

1962

85. An Experimental Study of Competitive Market Behavior
    Journal of Political Economy, 1962, 70, 322 View citations
    Also in Journal of Political Economy, 1962, 70, 111 (1962) View citations

1958

86. An Economic Analysis of Contributions Under the Income-Tax Laws
    Journal of Political Economy, 1958, 66, 432

Edited books

2008

1. Handbook of Experimental Economics Results, vol 1, Part 7
   Handbook of Experimental Economics Results, Elsevier
2. Handbook of Experimental Economics Results, vol 1, Part 5
   Handbook of Experimental Economics Results, Elsevier
3. Handbook of Experimental Economics Results, vol 1, Part 2
   Handbook of Experimental Economics Results, Elsevier
4. Handbook of Experimental Economics Results, vol 1, Part 4
   Handbook of Experimental Economics Results, Elsevier
5. Handbook of Experimental Economics Results, vol 1, Part 6
   Handbook of Experimental Economics Results, Elsevier
6. Handbook of Experimental Economics Results, vol 1, Part 8
   Handbook of Experimental Economics Results, Elsevier
7. Handbook of Experimental Economics Results, vol 1, Part 3
   Handbook of Experimental Economics Results, Elsevier
8. Handbook of Experimental Economics Results, vol 1, Part 1
   Handbook of Experimental Economics Results, Elsevier

Chapters

2008

1. 1. Markets
   Elsevier
2. 2. Market Economics of Uncertainty and Information
   Elsevier
3. 3. General Equilibrium and Multiple Market Systems
   Elsevier
4. 4. Games
   Elsevier
5. 5. Mechanism Design and Policy Applications
   Elsevier
6. 6. Non-market and Organizational Research
   Elsevier
7. 7. Individual Choice, Beliefs and Behavior
   Elsevier
8. 8. Methods
   Elsevier
9. Effect of Non-binding Price Controls in Double Auction Trading
   Elsevier
10. Energy, Reserve and Adjustment Market Behavior With Industry Network, Demand and Generator Parameters
    Elsevier
11. Exogenous Uncertainty Increases the Bid-Ask Spread in the Continuous Double Auction
    Elsevier
12. Fairness and Short Run Price Adjustment in Posted Offer Markets
    Elsevier
    See also Working Paper (2003)
13. Motivation Theory and Experimental Behavior under the Decision Cost Hypothesis
    Elsevier
14. Off-floor Trading, Market Disintegration and Price Volatility in Bid/Ask Markets
    Elsevier
15. Preface to the Handbook
    Elsevier
16. Price Bubbles
    Elsevier
17. Rewards and Behavior in First Price Auctions
    Elsevier
18. Strategy-Proof Equilibrium Behavior in Two-Sided Auctions
    Elsevier
19. The Combinatorial Auction
    Elsevier
20. The Endowment Effect
    Elsevier
    See also Working Paper (2003)
21. The Paradox of Power
    Elsevier
22. Transmission Constraints, Incentive Auction Rules and Trader Experience in an Electric Power Market
    Elsevier

1980

23. Relevance of Laboratory Experiments to Testing Resource Allocation Theory
    A chapter in Evaluation of Econometric Models, 1980, pp 345-377 View citations

1964

24. Appendix I-H: The Measurement of Capital
    A chapter in Measuring the Nation's Wealth, 1964, pp 329-354

Editor

1. Handbook of Experimental Economics Results
   Elsevier
2. Handbook of Experimental Economics Results
   Elsevier