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Vernon L Smith

July 27, 2007 | David Haldane, Times Staff Writer
In the latest and most dramatic move to elevate a small Orange liberal arts campus to a world-class institution, Chapman University announced Thursday that it had hired a cutting-edge Nobel laureate in economics and his entire research team. "This is a defining moment," university President James L. Doti said in announcing the appointment of Vernon L. Smith, who won the Nobel Prize in 2002 and is known internationally as the father of experimental economics.
Two American academics won the Nobel Prize in economics Wednesday for applying psychology and experimental research to such conundrums as why stock markets form "bubbles" and why people think they can sell an item for more money than they will pay to buy it. Daniel Kahneman, 68, a psychology professor at Princeton University, and Vernon L. Smith, 75, a professor of economics and law at George Mason University in Virginia, will share the $1.
October 14, 2002 | Mary McNamara, Times Staff Writer
The next time you're stuck in traffic, consider this: If Caltrans had been paying any sort of attention to the work of recent Nobel Prize winners Vernon L. Smith and Daniel Kahneman, you might be home by now. While the Nobels awarded in other areas -- literature, medicine, occasionally peace -- often resonate at some level with the average person -- most of us can read, after all, and take medicine, and peace, well, who doesn't want a little peace? -- the economics category can leave one cold.
March 17, 2014 | By Michael Hiltzik
[This post has been updated, as explained below.] The restaurant industry's opposition to a higher minimum wage is hardly a secret--it's one of the top issues on the lobbying agenda of the National Restaurant Assn., the chain restaurants' Washington trade group. The mystery is why the industry seemed so loath to reveal its role in a round-robin letter signed by more than 500 economists, including four Nobel laureates, calling the proposed minimum-wage hike to $10.10 an hour a "poorly targeted anti-poverty measure.
January 21, 2007 | Evelyn Iritani, Times Staff Writer
Paul Zak scanned the UCLA computer lab where 18 young men were tapping away at keyboards. Some of the students had been administered a dose of testosterone the evening before. Now, Zak was monitoring their behavior as they played an experimental game designed to measure trust. He was curious about how these hormonally fueled "alpha" males would behave. Would they be more selfish or generous? Helpful or aggressive?
July 24, 2005 | Cynthia H. Cho, Times Staff Writer
When Kimberly Teplitzky and Geoff Aung attended the College Republican National Convention in Arlington, Va., last month, they avoided talking about political issues with their fellow conventioneers. "We didn't want to scare them away," Teplitzky said. Teplitzky and Aung -- who voted for Sen. John F. Kerry (D-Mass.) in the 2004 presidential election -- are interns at Campus Progress, a new division of the Center for American Progress, a liberal Washington think tank.
October 13, 2002 | From Times Staff
Wall Street Breaks Its Losing Streak A big surge Thursday and Friday allowed Wall Street to break its six-week losing streak. The two-day rally pushed the Dow industrials up 7.7%, erasing earlier losses and giving the Dow a 4.3% gain for the week. The rally also lifted the benchmark Standard & Poor's 500 index, which on Monday brought the loss from its March 2000 peak to 48.6%--the deepest bear market since the Great Depression.
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