Karazin University has held a meeting of its Academic Board with the participation of the Nobel Laureate in Economics (2002), founder of experimental economics, Vernon Lomax Smith, Professor of Economics at the Weatherhead School of Management of Case Western Reserve University (OH, USA), researcher of the Economic Science Institute at Chapman University (CA, USA) Roman Sheremeta, Karazin University President, Vil Bakirov, vice-presidents, deans, directors of the University research institutes and structural subdivisions, and student self-government representatives.

During the meeting, Vernon Lomax Smith was awarded the diploma of Karazin University Doctor Honoris Causa, which is the highest scientific award of the University, the medal and the University’s traditional pass.

“It is a great honor for me to visit your University and give a lecture here. I would like to wish you success, particularly in creating an Experimental Economics Laboratory, so you can use it for implementing the necessary reforms in Ukraine. The importance of experimental economics is in adjusting reforms. It is essential to understand the system the reforms are based on,” said Professor Smith.

Besides, Mr. Smith delivered his lecture “Using Experiments to Test Beliefs: Three Cases from Experimental Economics” for Karazin University students, researchers and faculty members.