Vernon Smith on Adam Smith and Experimental Economics

Nobel Laureate Vernon Smith pioneered the use of experimental economics - using laboratory settings to better understand decision-making and economic behavior. Some of his experiments suggested more to human behavior than is typically modeled by modern economic methodology. In this episode, Vernon discusses his work in experimental economics and how 18th century Scottish economist and moral philosopher Adam Smith helped him develop a more complete view of human nature.

Music provided by the Benevolent Dictators from their upcoming album all about Adam Smith