Vernon L. Smith was awarded the 2002 Nobel Prize in Economics for his introducing experimental methods in economic analysis. He is founder of the Interdisciplinary Center for Economic Sciences, George Mason University and has been president of Public Choice Society, Economic Science Association, Western Economic Association and Association for Private Enterprise Education (APEE), among others. Smith holds a PhD in economics from Harvard University and is also honorary doctor in economics from Universidad Francisco Marroquín.
Exploring Austrian and Experimental Economics Dr. Vernon Smith
Universidad Francisco Marroquín Guatemala, March 26th 2004
A New Media UFM - UFM production. Guatemala, March 2004. Camera 1: Rebeca Zuñiga; camera 2 / digital editing: Sergio Miranda; index: Inés Zuñiga; publication: Pedro David España
Content
Initial credits
Introduction by Giancarlo Ibárgüen S.
The origins of the Nobel Prize lecture
After experimental economics
Difference between the personal and impersonal market
"The two faces of Adam Smith"
Theory of moral sentiments
The market doesn´t need intervention
Experience as a learning tool
Evolutionary psychology
Social distance and other regarding behavior
Sensory Order: Hayek's contribution to psychology
The role of creativity in experimental economics
The problem of experimental economics
The concept of rationality according to Mises
Utility maximization theory
Economics of survival
The meaning of being rational
The social mind
Sociopaths
The environmental influence
Beliefs and the interpretation of results
The ultimatum game
Conclusion
Final credits
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Universidad Francisco Marroquín
6 Calle final, zona 10
Edificio de la Escuela de Negocios
Oficina EN-103
Guatemala, Guatemala 01010
Teléfono (+502) 2338-7700 ext. 7849
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