About William Vickrey
William Spencer Vickrey (; 21 June 1914 – 11 October 1996) was a Canadian-American economist. He was a lifelong faculty member at Columbia University. A theorist who worked on public economics and mechanism design, Vickrey primarily discussed public policy problems. He originated the Vickrey auction, introduced the concept of congestion pricing in networks, formalized arguments for marginal cost pricing, and contributed to optimal income taxation. James Tobin described him as "an applied economist's theorist, as well as a theorist's applied economist." Vickrey was awarded the 1996 Nobel Memorial Prize in Economic Sciences with James Mirrlees for their research into the economic theory of incentives under asymmetric information. Vickrey never personally received the Prize; it was announced just three days prior to his death. Vickrey was the first to use the tools of game theory to explain the dynamics of auctions.
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