Vernon Smith attends the California Institute of Technology (Caltech) studying physics and electric engineering, earning his Bachelor in 1949. He becomes interested in economics after reading Samuelsons´ Foundations and Mises´ Human Action, seeing parallels between both sciences.

Vernom Smith leaves for the George Mason University.

Vernon Smith starts at the University of Kansas (KU) in 1949 to get an MA In economics under Dick Howey.

Vernon Smith attends Allison Intermediate School for three years before starting at North High School, graduating 1944.

At Harvard university Vernon Smith studies macroeconomics under Alvin Hansen and microeconomics under Samuelson.

Vernon Smith works as a visiting associate Professor at Stanford University. He meets Sydney Siegel and becomes more committed to experimental economics.

Vernon Smith first works at the Brown University, from 1968 at the University of Massachusetts He focuses on financial theory of the firm, natural resource economics and economics of uncertainty.

Vernom Smith marries Carol Breckner, they have a son.

Vernon Smith meets Joyce Harkleroad at the KU. They marry in 1950 and have three children.

Vernom Smith is awarded the Nobel Prize together with Daniel Kahneman in economic psychology and experimental economics for having established laboratory experiments as a tool in empirical economic analysis, especially In the study of alternative market mechanisms.

Vernom Smith works at the University of Arizona.

Vernon Smith teaches Principles of Economics at Purdue University. He finds it challenging to convey basic microeconomic theory to students And tries to resolve that by running a market experiment, inspired by E.H. Camberlain and G.L. Leffler, that converged the experimental Market to near equilibrium price and exchange volume.

Vernom Smith is offered a Sherman Fairchild Distinguished Scholar in 1974 at the California Institute of Technology. He teaches his “theory of induced Valuation”.

Vernon Lomax Smith is born in Wichita, Kansas to his parents Vernon Chessman Smith and Lulu Belle Lomax Bougher.

Vernon Smith prepares for the entrance exams for the California Institute of Technology at Friends´s University, taking courses in physics Chemistry, calculus, astronomy and literature And earning top grades.

In summer of 1943 Vernon Smith applies for an entry level job at Boeing Aircraft, working in the Functional Testing Department.

Vernon Smith accepts a fellowship at the Centre for advanced Study in The behavioural sciences. During his research he continues to develop New ideas of experimental designs together with Charles Plott.