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...YORK: After winning the Nobel prize in economics, laureate William Vickrey said he was ready to use the Nobel for a "good bully pulpit," and had a few more books to write. Instead, the 82-year old economist died Thursday night. He was found by a passing motorist unconscious at the wheel of his car about 30 miles north of New York City by a passing motorist, and pronounced DOA at a hospital early today. His 60 year career focused on "asymmetric information," when the parties in a transaction have access to different information. Interested in practical applications, like...
STOCKHOLM: The third of six Nobel prizes was presented Tuesday to Briton James Mirrlees and American William Vickrey for their work in economic theory. The two men did ground-breaking writing on"asymetric information," a condition which occurs when buyer and seller have differing information about a transaction. The condition has broad implications in analyzing systems from insurance and credit markets to taxation schemes. Mirrlees used the theory to study how high to set income taxes without discouraging workers and investors or encouraging tax evasion. Karl Gustaf Loefgren, a member of the Swedish Academy of Sciences, called...
Cover: Painting by Robert Vickrey...
...Robert Vickrey Orleans, Mass...
...opening my mailbox and catching a glimpse of Robert Vickrey's cover portrait of John Updike tumble out [April 26], I was instantly impressed with a feeling of Andrew Wyeth's nostalgic quality. Being a Wyeth fan, I immediately dove into your cover article and was quite pleased with myself and with Robert Vickrey on reading of John Earth's comparison of the artist Wyeth to the author Updike. I am now hurriedly on my way to our library to uncover every novel by Updike I can find...