The use of laboratory experiments in economics: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices was pioneered by Vernon Smith, who used his undergraduate economics students as his first test subjects in the 1950s. has never been explored because, as Vernon Smith pointed out in the 1950s, economic models are not scientific enough for laboratory experiments. was proposed by Vernon Smith in the 1950s, but still no economists have been able to design workable experiments. was extensive until the 1950s, when Vernon Smith disproved their reliability.