At the end of 1940s, he began to make his mark in academic circles, especially in the research field of optimal tax structure, and gradually became an authority figure in financial circles. His book "Progressive Tax Agenda", published in 1949, has become a classic in studying finance and tax law.

Vickery is knowledgeable, good at thinking, and has a keen sense of smell. He is famous for the practicality of his theory in the economic field. He has not only made outstanding achievements in taxation, transportation, public utilities and pricing. And he is also famous for his pioneering research on the theory of incentive economy. The profound thoughts on motivation in his early works did not regain the attention of economists until the 1970s, which greatly promoted the development of information economics, motivation theory, game theory and other fields.

Vickery's life-long research is closely related to public utilities and policies, and he is a typical applied economic theorist. He is not satisfied with the abstract research method of pure theory, but pays more attention to the practical problems that the public cares about. His main contribution to theory is due to the need to solve practical problems. At the same time, he also has profound attainments in economic theory, and is good at using his own theory to study practical problems, which gives him a solid theoretical foundation for the analysis of reality and makes theory and practice promote each other and complement each other.

Vickery's early academic career was inextricably linked with tax research, and the book Progressive Tax Agenda made him famous. As a result, he joined the tax committee in Schupp and went to Japan with Schupp, which laid the foundation of Japan's post-war tax system. Vickery believes that the capital gains contained in tax basis stipulated in most income tax systems lead to realized gains, partly because it is difficult to accurately calculate unrealized gains. For example, it is difficult to determine the ownership of some capital assets before the benefits are realized. In this regard, Vickery suggested that the accrued income should be levied retroactively according to the actual income. At the same time, he also studied the accumulation of average assets, inheritance tax of bequest right, year-end differential of inheritance tax, rationalization of undistributed profit tax, rationalization of wage income credit, land value tax and other issues.

In the 1960s.

In 1960s, Vickery began to study specific market mechanisms such as auction. 1960, Vickery published an article in Economics Quarterly, discussing the open asking price and secret bidding strategy. The following year, he published the article "Anti-speculation, Auction and Competitive Sealed Bidding" in Finance magazine, discussing the relationship between auction rules and the incentive of open asking price, and analyzing the private information about auction, strategic quotation and other issues. These two articles are groundbreaking works on the study of auction, which laid the foundation for the research in this field.

Vicry has also made great contributions to the optimal pricing theory of public utilities and transportation, including reaction pricing, urban congestion charging, simulated futures market, the influence of inflation on public utilities adjustment and pricing charging methods. He also participated in the research on the freight structure needed for the rapid operation of urban traffic lines in the United States and other countries, and analyzed the traffic congestion phenomenon and peak load effect. He strongly advocated pricing according to the congestion degree of vehicle use time, and even suggested adopting engineering methods to solve the problems of monitoring the use of urban cars and collecting tolls. Although Vickery's research is mostly about the specific market mechanism, it is of great value for people to understand the more general market mechanism and establish the general theory of market microstructure. The Nobel Prize in Economics is also an acknowledgement and affirmation of his theory.

Won the Nobel Prize in Economics.

1996 10 10 On 8 October, the Academy of Sciences of the Royal Swedish Academy decided to award the Nobel Prize in Economics to Vickery and Morris of the University of Cambridge, England, in recognition of their "basic contributions to stimulating economic theory under asymmetric information". Unfortunately, Professor Vickery died on his way to the meeting three days after winning the prize. He collapsed under the aura of the Nobel Prize, devoted his life to academic research, and finally drew a beautiful full stop for his life.