ByGeorge! Online

March 4, 2003

Nobel Economist Vernon Smith Presents the 2003 Maxon Lecture

Nobel Prize-winning economist Vernon Smith presented this year’s Robert P. Maxon Lecture on “Markets, Globalization, and Prosperity,” Feb. 19.

Smith, a professor of economics at George Mason University, won the 2002 Nobel Prize in economics for his accomplishments in the field of experimental economics. Smith has developed an array of experimental methods, setting standards for reliable laboratory experiments in economics. In his own experimental work, he has demonstrated the importance of alternative market institutions, such as how the revenue expected by a seller depends on the choice of auction method.

The Maxon Lectureship was established through Dorothy Maxon’s endowment in honor of Robert P. Maxon (BA ’48).


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