William Vickrey
William Spencer Vickrey (21 June 1914 – 11 October 1996) was a Canadian-American professor of economics. In 1996, he won the Nobel Memorial Prize in Economic Sciences with James Mirrlees, They won the award for their research into the economic theory of incentives under asymmetric information. Vickrey is the only person born in British Columbia to win a Nobel prize..
William Vickrey | |
|---|---|
| Born | 21 June 1914 Victoria, British Columbia, Canada |
| Died | 11 October 1996 (aged 82) |
| Nationality | Canada |
| Institution | Columbia University |
| Field | Public economics |
| School or tradition | Post Keynesian economics |
| Alma mater | Columbia University Yale University |
| Doctoral students | David Colander Jacques Drèze |
| Influences | Henry George Harold Hotelling John Maynard Keynes |
| Contributions | Vickrey auction Revenue equivalence theorem Congestion pricing |
| Awards |
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| Information at IDEAS / RePEc | |
The announcement of his Nobel Prize was made just three days before he died. Vickrey died during his journey to a conference of Georgist academics that he helped found. He had never missed one of these conferences in 20 years.[1][2] His Nobel award was accepted by C. Lowell Harriss. Harriss worked with Vickrey at the Columbia University economics department. A Nobel Prize has only been awarded after the deaath of a person three other times.
Early years
Vickrey was born in Victoria, British Columbia. He attended high school at Phillips Academy in Andover, Massachusetts. Vickrey got his BS in Mathematics at Yale University in 1935. He got his MA in 1937. He also did Ph.D. in 1948 at Columbia University. He remained at Columbia for most of his career.
Personal life
Vickrey married Cecile Thompson in 1951. He was a Quaker. He is also a member of Scarsdale Friends Meeting.[3] He died in Harrison, New York in 1996 from heart failure.
Selected works
- "Counterspeculation, Auctions, and Competitive Sealed Tenders", Journal of Finance, 1961. The paper originated auction theory, a subfield of game theory.
- "Fifteen Fatal Fallacies of Financial Fundamentalism: A Disquisition on Demand Side Economics". October 5, 1996.
- Arrow, Kenneth Joseph; Arnott, Richard J.; Atkinson, Anthony A.; Drèze, Jacques, eds. (1997). Public Economics: Selected Papers by William Vickrey. Cambridge, UK: Cambridge University Press. ISBN 978-0-521-59763-0.
- Warner, Aaron W.; Forstater, Mathew; Rosen, Sumner M., eds. (2000). Commitment to Full Employment: The Economics and Social Policy of William S. Vickrey. Armonk, N.Y: M.E. Sharpe. ISBN 978-0-7656-0633-4.
- Pavlina R. Tcherneva (2004). Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey. Edward Elgar Publishing. ISBN 978-1-84376-409-0.
References
- ↑ Netzer, Dick (November 1996). "Remembering William Vickrey". Land Lines. 8 (6). Retrieved 2 September 2016.
- ↑ Gaffney, Mason. Warm Memories of Bill Vickrey. Land & Liberty. http://www.cooperative-individualism.org/gaffney-mason_warm-memories-of-bill-vickrey-1997.htm. Retrieved 15 November 2016.
- ↑ William Vickrey - Biographical
Further reading
- Arnott, Richard (October 1997). "William Vickrey; Contributions to Public Policy" (PDF).
{{cite journal}}: Cite journal requires|journal=(help) - Richard Arnott; Anthony B. Atkinson; Kenneth Arrow; Jacques H. Drèze, eds. (1994). Public Economics; Selected Papers by William Vickrey. Cambridge University Press. ISBN 9780521454391.
Other websites
- IDEAS/RePEc
- "William S. Vickrey (1914–1996)". The Concise Encyclopedia of Economics (2nd). (2008). Liberty Fund.
- "William Vickrey". JSTOR.
| Awards | ||
|---|---|---|
| Preceded by Robert E. Lucas Jr. |
Laureate of the Nobel Memorial Prize in Economics 1996 Served alongside: James A. Mirrlees |
Succeeded by Robert C. Merton |