Vernon Smith Prize 2016 – The Essays

Vernon Smith Prize 2016 | On February 6, 2017 the winners of last year’s essay competition did defend their papers at a special event in Vaduz (Principality of Liechtenstein). The essays of the three winners can read and downloaded here:

First Prize (€4,000): Karol Zdybel, Poland

Direct Democracy versus Representative Democracy. Cost and Benefits for the Citizenry
(PDF, 229 kb)

Second Prize (€3,000): Alan Futerman, Argentina

The Hayekian Case for Direct Democracy
(PDF, 527 kb)

Third Prize (€2,000): Mark O’Kane, Great Britain

Direct Democracy versus Representative Democracy: Cost and Benefits for the Citizenry
(PDF, 106 kb)

The 9th International Vernon Smith Prize for the Advancement of Austrian Economics was an essay competition sponsored and organized by ECAEF European Center of Austrian Economics Foundation, Vaduz (Principality of Liechtenstein). Topic of 2016: ‘Direct Democracy versus Representative Democracy. Cost and Benefits for the Citizenry!’

Our Partners

Liechtenstein Academy | private, educational foundation (FL)
Altas Network | economic research foundation (USA)
Austrian Economics Center | Promoting a free, responsible and prosperous society (Austria)
Berlin Manhatten Institute | non-profit Think Tank (Germany) | Buecher fuer den Liberalismus (Germany)
Cato Institute | policy research foundation (USA)
Center for the New Europe | research foundation (Belgium)
Forum Ordnungspolitik
Friedrich Naumann Stiftung
George Mason University
Heartland Institute
Hayek Institut
Hoover Institution
Istituto Bruno Leoni
Institut Václava Klause
Instytut Misesa
IREF | Institute of Economical and Fiscal Research
Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise | an interdivisional Institute between the Krieger School of Arts and Sciences, and the Whiting School of Engineering
Liberales Institut
Liberty Fund
Ludwig von Mises Institute
New York University | Dept. of Economics (USA)
Stockholm Network
Students for Liberty
Swiss Mises Institute
Universidad Francisco Marroquin