One of Dr. Stringham’s students, Caleb J. Miles of New Zealand, won first prize in the 4th International “Vernon Smith Prize Contest for the Advancement of Austrian Economics sponsored and organized by ECAEF – European Center of Austrian Economics Foundation Vaduz (Principality of Liechtenstein). The title of his winning essay is “Staat versus Rechtsstaat: Institutional Determinants of the Rule of Law. The second prize went to Wolf von Laer of Germany, and the third prize to Marta P. Likluch of the USA. The winners were honored at a special ECAEF ceremony in Vaduz Principality of (Liechtestein) on January 30, 2012.