• 00:01    |    
    Initial credits
  • 00:21    |    
  • 00:40    |    
    What is the importance of experimental economics in the economic theory?
  • 03:19    |    
    Do you think experimental economics can be used as a predictive tool?
  • Iowa electronic market
  • 08:05    |    
    How do experimental economics relate to Friedrich A. Hayek's philosophy?
  • 12:54    |    
    What is the origin of economic bubbles?
  • Laboratory results
  • 18:33    |    
    What areas have a promising future in this type of research?
  • 23:17    |    
    Final words
  • 23:24    |    
    Final credits

Discussing Experimental Economics with Vernon Smith

New Media  | 19 de junio de 2010  | Vistas: 173

Fritz Thomas interviews Vernon L. Smith regarding the role that experimental economics play within the economic theory.  Smith describes how these observation exercises contribute to a better understanding of the economic phenomena, as well as how such experiments are useful to predict market behaviors and their main structures.  He elaborates on how these economic trials relate to the philosophy of the Austrian School of Economics.  Finally Smith explains, based on his research, the causes of economic bubbles in markets and how they emerge from specific monetary policies imposed by central authorities.


Vernon L. Smith was awarded the 2002 Nobel Prize in Economics…


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