Quote by Vernon Smith
"Institutions matter more than we thought. They shape human behavior in fundamental ways."
More from Vernon Smith
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."
"Markets work so well that we are not aware of how well they work."
"I wanted to understand how markets worked, not just theoretically but in practice."
"An economist is someone who sees something working in practice and wonders if it would work in theory."