This economist proposed a system of “cumulative averaging” to limit the tax advantage of capital gains. This economist argued that a 300-dollar car imposed a 23,000-dollar tax on cities in the form of road spending in a series of papers that led him to be called the “father of congestion pricing.” This economist’s name is the [emphasize] first in a mechanism that uses a “Clarke pivot rule” to stay DSIC (“D-S-I-C”). This economist drew on Abba Lerner’s idea of “counterspeculation” in a paper that gave an early proof of the revenue equivalence theorem. That paper’s result generalized into a system co-named for him, Edward Clarke, and Theodore Groves. This economist names a system in which the winner pays the second-highest bidder’s price. For 10 points, name this economist who pioneered auction theory with his namesake sealed bid auction. ■END■
ANSWER: William Vickrey [or William Spencer Vickrey; accept Vickrey–Clarke–Groves auction; prompt on VCG mechanism by asking “what does that stand for?”] (DSIC stands for “dominant-strategy incentive compatible.”)
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= Average correct buzz position