William Vickrey Quotes
Firms would be given initial entitlements to gross markup on the basis of past performance. These entitlements would be transferable and a market in them would be developed.
Citations
Vickrey, William. "Today's Task for Economists." The American Economic Review, vol. 83, no. 1, American Economic Association, Mar. 1993, p. 5.
Related Quotes
William Spencer Vickrey was a Canadian-American professor of economics and Nobel Laureate. 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, becoming the only Nobel laureate born in British Columbia.