The Rasmuson Chair has been central to the development of the UAA experimental economics program. The Rasmuson Chair was created through a generous endowment by the late Elmer Rasmuson, a distinguished banker, entrepreneur, and philanthropist. The chair was established by the board of Regents in late 2001.

In 2003, UAA had the distinct priviledge to welcome Professor Vernon Smith, a 2002 Nobel laureate in economics, as the first Rasmuson Chair in Economics.  Professor Smith is an economist at Chapman University, ICES Emeritus faculty at George Mason University, and president of IFREE.  Prof. Smith served as Rasmuson Chair until 2006. Under Dr. Smith's leadership, a new experimental research and teaching emphasis took shape at UAA. The UAA experimental program is growing and gaining momentum and Prof. Smith continues to lend his expertise to UAA faculty and other Alaskans. 

In the Fall of 2006, UAA welcomed Jim Murphy as the second distinguished Rasmuson Chair. Jim is an accomplished experimentalist and resource economist who joins UAA from the University of Massachusetts, Amherst. Jim is actively engaged in using experimental methods in his research and teaching. 

Support from the College of Business and Public Policy, and the CBPP Dean Tom Case, has also been vital to the development of the experimental economics lab and program. 


Click here to read a short overview of Experimental Economics at UAA, edited by Linda Leask.

What is Experimental Economics?:

"Using Experimental Methods to Inform Public Policy Debates" is an great overview of experimental methods (by Jim Murphy).

Click here to read an excellent description of experimental methods in economics by Vernon Smith.