Award Awards

2020 Vernon L. Smith Excellence Award


Edward Halim

Yohanes Riyanto

Nilanjan Roy

We are pleased to announce that Edward Halim, Yohanes Riyanto, and Nilanjan Roy won the 2020 Vernon L. Smith Excellence Award in Experimental Finance for their paper “Costly Information Acquisition, Social Networks, and Asset Prices: Experimental Evidence”, published in the Journal of Finance (

The award panel also wants to give special recognition to the paper “An Experimental Test of the Lucas Asset Pricing Model” by Sean Crockett, John Duffy, and Yehuda Izhakian, published in the Review of Economic Studies (

The award panel is impressed by the depth and scope of the studies and is convinced that both papers make a very important contribution to Finance research. The panel members are Elena Asparouhova (University of Utah), Michael Kirchler (University of Innsbruck), Dave Porter (Chapman University), and Utz Weitzel (VU Amsterdam and Radboud University).

Congratulations to all authors for their contributions!