Vernon L. Smith, American economist and academic, Nobel Prize laureate

Vernon Lomax Smith is an American economist who is currently a professor of economics and law at Chapman University. He was formerly the McLellan/Regent's Professor of Economics at the University of Arizona, a professor of economics and law at George Mason University, and a board member of the Mercatus Center. Along with Daniel Kahneman, Smith won the 2002 Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics and his work in the field of experimental economics, which helped establish “laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms”.

The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, commonly referred to as the Nobel Prize in Economics, is an award in the field of economic sciences administered by the Nobel Foundation, established in 1968 by Sveriges Riksbank to celebrate its 300th anniversary and in memory of Alfred Nobel.

January 1 is the first day of the calendar year in the Gregorian Calendar; 364 days remain until the end of the year. This day is also known as New Year's Day since the day marks the beginning of the year.