"Parallelism: Propositions about the behavior of individuals and the performance of institutions that have been tested in laboratory microeconomies apply also to nonlaboratory environments where similar ceteris paribus conditions prevail."
React to this quote
More by Vernon L. Smith
See allResonant Thoughts
"As an instructor, you must be able to distinguish between poor performance caused by lack of ability or aptitude on the part of the student and poor performance caused by lack of effort. You should tr…"
Explore Further
Related Quotes
"We look forward to working alongside internet companies, but indeed, if they do not choose to act, we will …"
— Justin Trudeau"Fights over ideas are the most vicious of all. If it were merely food, or water, or shelter, we would work …"
— Kim Stanley Robinson"Indeed, the frequency of crashes in the Monte Carlo simulations was much smaller than the frequency of cras…"
— Didier Sornette"The Fifth of May, The Betrothed and other works"
— Alessandro Manzoni"Aphra Behn: Biography, Works, Quotes, and Additional Resources at Luminarium"
— Aphra Behn"The underlying principle of specialization is division of labor; but the term division of labor has become …"
— Dexter S. Kimball
Related Thinkers
Related Topics
Deep Dives
- David Cay Johnston on work
- Norman Angell on work
- David Cay Johnston on politics
- David Cay Johnston on time
- David Cay Johnston on justice
- David Cay Johnston on life
- David Cay Johnston on knowledge
- David Cay Johnston on art
- David Cay Johnston on philosophy
- David Cay Johnston on money
- knowledge & Beauty
- knowledge & Change