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Only Paul Could Go To Changchun

Experimental economics and business education: an interview with Nobel Laureate Vernon Lomax Smith (2016)

4/11/2016

 
Here.

 
This interview with Nobel Laureate Vernon Lomax Smith covers a variety of topics, from Vernon’s early formative experiences growing up on a Kansas farm in the Great Depression to his path breaking scholarship in the area of experimental  economics. We set the stage for the interview by summarizing Smith’s scholarly contributions and  early life experience. Our interview begins with a discussion of Smith’s childhood education and        experiences which shaped his attitude toward scholarship,entrepreneurship, markets, and work.

We then turn to 
Smith’s lifelong nurturing of scholarly interests in multiple academic fields including engineering, economics, and philosophy, and probe how this multidisciplinary approach may have led him to eschew the standard thinking about the boundaries of economics and pioneer the field of experimental economics. As Smith has been a student or professor at more than a dozen universities in a career spanning more than seven decades, we probe his philosophies on business education, including the best models for business schools. We then discuss Smith’s ability to focus intensely--a phenomenon he labels ‘‘defective switching.’’

The final interview questions center on 
topics which have fascinated Smith throughout his career: Scottish Enlightenment economist Adam  Smith, ethics, and management. Our conclusion highlights Smith’s contributions and their implications for business education, particularly small business economics and entrepreneurship.



Published 2016

From:

Siri Terjesen
American University
Amy Willis
Norwegian School of Economics

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