Deceiving someone in our everyday lives is a moral failing, one that we are adept at detecting and quick to judge in the words and actions of others. In our professional lives as economic scientists we are also quick to judge experimental procedures as deceptive, but we have problems...

If there is a favorite sentence that encapsulates Vernon Smith’s contribution to how I think about economics, it is the first one in the second footnote of his Nobel lecture: “Doing experimental economics has changed the way I think about economics” (reprinted in Smith, 2003; p. 465). He...