Vernon L. Smith was awarded the Nobel Prize in Economic Sciences in 2002 for his groundbreaking work in experimental economics. He currently has joint appointments with the Argyros School of Business & Economics and the School of Law at Chapman University, is a research scholar at George Mason University Interdisciplinary Center for Economic Science, and serves as a Fellow of the Mercatus Center. He is the founder and president of the International Foundation for Research in Experimental Economics and an Adjunct Scholar of the Cato Institute in Washington D.C. Smith has authored or co-authored more than 250 articles and books on capital theory, finance, natural resource economics and experimental economics. Previous faculty appointments include the University of Arizona, Purdue University, Brown University, the University of Massachusetts, and George Mason University. Smith completed his undergraduate degree in electrical engineering at the California Institute of Technology, his master's degree in economics at KU in 1954, and his Ph.D. in economics at Harvard University.