Nobel Laureate Vernon Lomax Smith, Doctor Honoris Causa of the Academy of Economic Studies in Bucharest

The Academy of Economic Studies in Bucharest added a new prestigious name to the gallery of personalities honored with the title of Doctor Honoris Causa. Professor Vernon Lomax Smith, winner of the Nobel Prize in Economics, received the university's highest honor at a ceremony held on Wednesday, February 4, in the Aula Magna of the ASE.

The event, organized in a hybrid format, brought together members of the academic community, teachers, researchers and students, both in the hall and online. The ceremony was moderated and opened by the President of the University Senate, prof. Dr. Gheorghe Hurduzeu.

Rector of ASE, university professor Dr. Nicolae Istudorpresented the Diploma of Doctor Honoris Causa, and expressed, on behalf of the Board of Directors, thanks to the professor Vernon Lomax Smith for accepting the university's DHC title, underscoring the importance of Professor Smith's contributions to modern economic thought.

“The awarding of this title reflects ASE's deep respect for academic excellence and for research with a major impact on society,” said the Chancellor of the university, highlighting Professor Smith's role in redefining the way market mechanisms are analysed.

Praise was supported by the dean of the Faculty of Cybernetics, Statistics and Economic Informatics, prof. Dr. Claudiu Herțeliuwhich presented the academic and scientific career of the American economist, recognized worldwide as a pioneer of experimental economics.

Although present online at the ceremony, Professor Vernon Lomax Smith was one of the focal points of the event, delivering a lecture that was appreciated by the participants, entitled “Adam Smith's Theory of Society”. The theme of the conference is also taken up in his latest book, published in 2025, in which the author explores the moral and institutional foundations of modern society.

Professor at Chapman UniversityVernon Lomax Smith received the Nobel Prize for Economics in 2002, along with Daniel Kahnemanfor the establishment of laboratory experiments as an essential tool of analysis in the experimental economy. Through this approach, Smith demonstrated how individual decisions, institutional rules, and incentives can be rigorously studied to understand the workings of markets.

It is the fifth time that the Academy of Economic Studies in Bucharest has awarded the title of Doctor Honoris Causa to a Nobel Prize laureate, a fact that strengthens the university's position as an academic pole of excellence in South-Eastern Europe and as a relevant partner in the international scientific dialogue.

Official statements

Nicolae IstudorRector of the Academy of Economic Studies in Bucharest:

“The granting of the title of Doctor Honoris Causa to Professor Vernon Lomax Smith, laureate of the Nobel Prize for Economics, is an expression of the deep respect that the Bucharest Academy of Economic Studies accords to academic excellence and scientific contributions with a major impact on the development of contemporary economic thought. Professor Smith's work and activity have decisively influenced the way market mechanisms are understood and analyzed, and his presence in the honorary community of ASE strengthens the international openness and prestige of the university ours.”

Gheorghe HurduzeuPresident of the ASE University Senate:

“By conferring the title of Doctor Honoris Causa on Professor Vernon Lomax Smith, the Senate of the Academy of Economic Studies in Bucharest recognizes the exceptional contribution of a pioneer of experimental economics, whose research has redefined the methodology of economic analysis and deeply influenced generations of economists and public decision-makers. This distinction confirms ASE's commitment to the promotion of fundamental academic values ​​and international scientific dialogue.”

The diploma and the robe of Doctor Honoris Causa will be personally handed to Professor Vernon Lomax Smith on the occasion of an official visit of the ASE management to the United States of America, thus marking the continuation of the academic relations between the Bucharest university and the international academic environment.

Article supported by the Bucharest Academy of Economic Studies