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Discussing Experimental Economics with Vernon Smith

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Discovering Exchange, Specialization and Property

18 de junio de 2010   | Vistas: 13 |  

About this video

In this conference Vernon Smith, a pioneer in experimental economics and systematic observation, shows the process and outcome of virtual economic trials which illustrate human action towards property rights, exchange and specialization in a society.  By creating an artificial environment that exposes participants to basic economic activities in a controlled software, he has been able to measure and analyze different behaviors and collaborations inside the experiment.  Through these trials Smith demonstrates the evolution of economic interactions in history, when certain needs arise between individuals.  He shares how individuals tend to cooperate with each other instead of stealing or cheating in order to succeed, based on spontaneous social rules that guide social interactions towards wellness.  Finally, he describes how property rights naturally tend to acquire importance in a society and how certain innate rules emerge to preserve it, explaining the ends and means of our society nowadays.



Credits

Discovering Exchange, Specialization and Property
Vernon Smith

Milton Friedman Auditorium
Universidad Francisco Marroquín
Guatemala, June 18, 2010

New Media - UFM production.  Guatemala, May 2010
Camera: Joni Vasquez, Jorge Samayoa; digital editing: Mynor de León; index and synopsis: Sergio Bustamante; content reviser: Sofía Díaz; publication: Carlos Petz/Daphne Ortiz




Vernon L. Smith was awarded the 2002 Nobel Prize in Economics for his introducing experimental methods in economic analysis. He…

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Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín