Vernon L. Smith
Born: 1 January 1927, Wichita, KS, USA
Affiliation at the time of the award: George Mason University, Fairfax, VA, USA
Prize motivation: "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms"
Field: economic psychology, experimental economics
Contribution: Developed methods for laboratory experiments in economics, which has helped our understanding of economic behavior.
Prize share: 1/2