Texas Tech’s Free Market Institute will host a Nobel Laureate this week.

Vernon Smith will participate in the Free Market Institute’s free public lecture series on Tuesday, February 18th in Room 105 of the Business Administration building, located at 703 Flint Avenue.

The lecture will run from 5 p.m. until 6:15 p.m.

Smith is a professor of economics at Chapman University’s Argyros School of Business and Economics and School of Law in Orange, California. He is also a research scholar at George Mason University’s Interdisciplinary Center for Economic Science and a fellow of the Mercatus Center.

“Among Nobel Laureates, he is one of the most consistently pro-free market scholars and he has a new book on housing bubbles about to be released,” said Benjamin Powell, director of the Free Market Institute.

Powell continued, saying, “In short, he’s a leading economic thinker and has a new book on the most significant economic event in recent U.S. history. Put these together and he’s the perfect lecturer for the Free Market Institute and the Rawls College of Business to host.”

Smith will discuss how housing bubbles impact bank and household balance sheets, and what that implies for economic recovery. The Tech FMI says that he will also discuss what the U.S. government has done with monetary and fiscal policy to delay rather than speed up a recovery.

In 2002, Dr. Smith shared the Nobel Memorial Prize in Economic Sciences with Daniel Kahneman “for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms,” in studies that integrated insights from psychological research into economic science.

The event is free to attend and open to the public.