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Vernon Smith will describe the neo-classical belief state of economics, circa 1950; how it influenced early experimental market explorations; changed how we thought about markets; in the end resurrecting the dynamics of classical market price discovery processes, lost in static neo-classical marginal utility theory.
Vernon Smith won the Nobel Prize in Economics, 2002; appointments at: Purdue University, Stanford, University of Massachusetts, CalTech, Unversity of Arizona, University of Alaska-Anchorage, George Mason University and Chapman. Degrees: BS, CalTech; MA, PhD, Harvard. Recent books: "Humanomics, A Life in Experimental Economics."