“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.”

Source: "Relevance of laboratory experiments to testing resource allocation theory," 1980, p. 349.

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Vernon L. Smith20

American economist 1927

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As a nation we have made peace and war: as a nation we have vanquished our common enemies: as a nation we have formed alliances, and made treaties, and entered into various compacts and conventions with foreign States.
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“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.”

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Vernon L. Smith20

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